Forecast for AUD/USD on August 20, 2020


The Australian dollar abandoned its attempt to reach the target level of 0.7296 on Wednesday and, under the US dollar's strong attack throughout the market, dropped 60 points. The signal line of the Marlin oscillator is about to go into the negative trend zone. This could be a significant technical aid for the price, preparing for an attack on the MACD line. Success, that is, the price falling below the 0.7110 level, opens the second bearish target at 0.6975.


There is an intensified decline in the Australian currency on the four-hour chart. The price broke through the support of the MACD line with force and is heading towards its first target at 0.7110. Marlin is also steadily declining in the negative trend zone.


The material has been provided by InstaForex Company -