The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
AUD/USD
On the daily chart, the Australian dollar appears to be in a strong upward position, as it is staying above both indicator lines while Marlin is in the positive area. But at the same time, the price is also approaching a powerful resistance level, which it has failed to overcome more than five times since the beginning of the year.
Now, on the fundamental side, the price has a very low chance of consolidating above 0.6627 in the last five months. And the Marlin oscillator is getting weaker. We believe that the price will return to the support of the MACD line (0.6545) and will try to retest the targets of 0.6480 and 0.6410.
A good signal for this endeavor is when the aussie overcomes the MACD line on the 4-hour chart, the level of 0.6589, coinciding with the April 29 high. The signal line of the Marlin oscillator is close to the border of the downtrend territory and is ready to pull the price behind it. We are awaiting further developments.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
