Forecast for AUD/USD on April 22, 2020

AUD/USD

The Australian dollar lost more than 50 points on Tuesday, which completed the main task from the technical side - it closed the day under the MACD line on the daily chart. If it also closes below this line today, then the price will consolidate below it and the prospect of a medium-term decline will become even closer. The Marlin Oscillator is going down.

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The first goal of the decline is to support the price channel at around 0.6175. Overcoming the price channel line opens the way to 0.5798.

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Marlin formed a convergence on the four-hour scale. But the price is under both indicator lines - the balance and MACD line, which creates the risk of convergence going into a further decline. This issue will be resolved with a price transition below yesterday's low of 0.6255. In this case, we are waiting for a movement to the nearest target 0.6175.

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