Forecast for AUD/USD on April 3, 2020

AUD/USD

The price consolidated under the Fibonacci level on the daily chart on Thursday, by the end of the day the aussie fell by 11 points. The indicators have not changed, the 0.5834 target along the price channel is preserved.

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On the four-hour chart, the price with the last eight candles shows steady development under the red indicator line of balance, which indicates the stability of the market sentiment to continue to decline.

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The intermediate goal of the Australian dollar on the way to the goal of 0.5834 is the MACD line at around 0.5950. Either there will be some rebound in the price upwards from this line, or the price will overcome it with force and continue to decline.

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