Forecast for AUD/USD on April 2, 2020

AUD/USD

Yesterday, the Australian dollar showed sharp volatility at the signal level of 0.6078 in the range of 130 points, but it quickly subsided and the price is still at this signal level until this morning. The price broke above the top of the correctional level of 50.0%. The Marlin oscillator smoothly entered the zone of negative values. The goal of the decline is the price channel line around 0.5834.

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The price is located directly on the balance line on the H4 chart, slightly below it. The signal line of the Marlin oscillator is consolidated in the downward trend area. The intermediate target on the way to 0.5834 is the MACD line at the price of 0.5934.

It is possible to open short positions on the market: s/l above 0.6120, t/p above 0.5834.

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The material has been provided by InstaForex Company - www.instaforex.com