Forecast for AUD/USD on September 1, 2020

AUD/USD

The Australian dollar reached the target level of 0.7395. An ideal triple divergence formed with the Marlin oscillator, exactly described by its line. Mathematically, the probability of a price reversal is more than 70%, but now the aussie is under the great impression of external markets, and the US dollar's long-term weakness will send AUD/USD higher to the target level of 0.7500. Commodities and metals are also slightly growing. Setting the price above the 0.7395 level will make it possible to continue growth towards the second target of 0.7500.

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The price shows its intention to settle above the 0.7395 level on the four-hour chart. The leading Marlin oscillator is declining, creating an intrigue of uncertainty. We are waiting for the development of events.

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