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25.10.202404:54 Forex Analysis & Reviews: Forecast for AUD/USD on October 25, 2024

The Australian dollar is struggling to hold its ground at the 0.6640 level. Falling commodity prices are putting pressure on it, while the rise in European currencies helps to support it—the dollar index fell by 0.34% yesterday. The Marlin oscillator on the daily chart continues to move sideways, meaning that, as a leading indicator, it does not show growth potential.

Exchange Rates 25.10.2024 analysis

A possible increase could occur if the euro and the pound rise are strong, but this might only happen after an initial test of 0.6570. If the commodity pressure eases today, we could see upward movement tomorrow. Today, however, it will likely focus on consolidation above the 0.6640 level, which could open up a target of 0.6727.

Exchange Rates 25.10.2024 analysis

The price has yet to pull away from the MACD line in either direction on the four-hour chart. The Marlin oscillator is approaching the boundary with the growth territory but has yet to move into it. The situation remains neutral, and we await a resolution by the end of today.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
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