Forecast for AUD/USD on November 17, 2020

AUD / USD

The Australian dollar rose by 52 points yesterday. Technically, the growth of the market was due to a rebound from the support of the MACD indicator line from the trading's opening. As the Marlin Oscillator continues to grow, the price at the first target level of 0.7380 is anticipated. If the price overcomes it, then we anticipate the price at the second target level of 0.7440 (the minimum of September 2016 and the maximum of August 2015).

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Based on the four-hour chart, the price consolidated above the balance indicator line with the growing Marlin oscillator. This is a sign that the current movement remains on the horizon for several days. The Australian dollar at the specified target levels is to look forward to.

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