Forecast for AUD/USD on July 14, 2020


The Australian dollar fell for the third consecutive day on Monday. Even if it's a little, but the triple divergence on the Marlin oscillator is at risk on the daily chart. The signal line of the oscillator is now in the negative zone, a further decline in the price below the level of 0.6900 may lead to a further fall to 0.6745 and possibly develop a medium-term decline (0.6600 and below).


An exit of the price above the signal level of 0.7000, which is marked on the four-hour chart, can prevent the development of a downward movement. In this case, the triple divergence on Marlin will continue to form and the targets 0.7080 and 0.7190-0.7225 will open before the price. Pulling down the price below the target level of 0.6900 opens the target of 0.6745. But first, the price needs to get a foothold under the MACD line on H4, that is, below yesterday's low.


The material has been provided by InstaForex Company -