Forecast for AUD/USD on September 22, 2020

AUD/USD

The Australian dollar has been waiting for signals from foreign markets for a long time, and it received them on Monday. Oil fell 2.77%, copper -2.03%, and the US dollar index rose 0.59%. The Australian dollar was down 65 points.

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The daily chart shows that prices have broken the initial target level of 0.7249 and are now approaching the target level of 0.7110, then to 0.7065, after which a correction is likely, since the Marlin oscillator will be in the oversold zone by that time.

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The price has firmly settled below the 0.7249 level on the four-hour chart. It is possible that the aussie will test the level from below as part of a local correction, but we are waiting for it at the target level of 0.7110. The leading Marlin oscillator does not send a reversal signal.

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