Forecast for AUD/USD on May 15, 2020

AUD/USD

The Australian dollar traded in the range of over 60 points on Thursday, closing the day with symbolic growth. The Marlin indicator does not pay attention to the price and goes down its way, trying to move into the declining trend zone, with only a little bit left. The aussie's first target is 0.6348 - to support the embedded line of the price channel, then 0.6255 to support the MACD line.

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The price exceeded the MACD line on the four-hour chart, remaining under the red balance indicator line, which indicates the falsity of such an exit, at least for the moment. The Marlin oscillator is also in no hurry to leave the declining trend zone. We are waiting for the price to return under the MACD line and movement to the first target of 0.6348.

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