Forecast for AUD/USD on October 20, 2020

AUD/USD

The Australian dollar tested the target support of 0.7058 yesterday, and overcame it this morning. The Marlin oscillator continues to decline in the negative area, now it is aiming for the support of the embedded price channel line in the 0.6955 area.

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The four-hour chart shows that the signal line of the Marlin oscillator has moved down for the second time from the border of the growth area. The oscillator has a solid potential path for declining further ahead. We are waiting for the price at the indicated level of 0.6955.

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