Forecast for AUD/USD on May 1, 2020

AUD/USD

The Australian dollar, after overcoming the price channel line on Wednesday, returned to the area below it on Thursday and today, it opened under this price channel line. Thus, the divergence on the Marlin oscillator worked out, the situation continued to develop according to the main scenario.

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The pound is aiming for the underlying price channel line at 0.6373, then the support of the MACD line at 0.6270, and the third goal is the linear support at 0.6155.

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The price came close to the MACD line on the four-hour chart. Overcoming the support (signal level of 0.6458) opens up a way to 0.6373. Overcoming 0.6373 opens the target of 0.6270. The Marlin oscillator is already in the negative zone.

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