Forecast for AUD/USD on September 4, 2020

AUD/USD

The Australian dollar lost 66 points yesterday, weighed down by external markets; oil -1.28%, copper -1.81%, dollar index 0.14%. The price reached the MACD indicator line (0.7255) this morning, now it should gain a foothold below it in order to head for a medium-term decline. The first target is 0.7075 - the August 3 low. We expect a powerful triple divergence in the Marlin oscillator to provide help in this task.

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The price settled below the balance and MACD indicator lines on the four-hour chart, while Marlin is in the downward trend zone. We are waiting for the price to fall.

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