Forecast for AUD/USD on August 14, 2020

AUD/USD

The Australian dollar fell 12 points against the overall decline of the US dollar by 0.20% on Thursday. This is partly due to the decline in commodity prices. Oil dropped 0.47% and copper with 3.11%. The price typically touched the 0.7190 target level with its upper shadow, which once again confirmed its stability. The Marlin oscillator almost touched the border of the bears' territory. Moving into it, the oscillator will show that the market is strengthening its sentiment to sell. The first target remains at 0.7070.

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As before, the price is developing under the balance and MACD indicator lines on the four-hour chart, Marlin moving down from the border with the bulls' territory. We are waiting for AUD/USD to decline further to the nearest target of 0.7070. Overcoming it opens the way to further decline in the medium-term.

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