Forecast for AUD/USD on April 22, 2020


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.


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.


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 -