Forecast for AUD/USD on December 17, 2020


The Australian dollar was already going to turn down, but this time it did not do so due to external circumstances - the euro sharply rose following a neutral Federal Reserve meeting. The aussie added 18 points as the euro grew 50 points.


The daily chart shows that a divergence continues to form. Without breaking the divergence, the price may even go slightly above the target level of 0.7600. A significantly higher growth above the Marlin divergence will break, the target will be the 0.7660/75 range, to the August 2007 low.


The four-hour chart shows that the signal line of the Marlin oscillator reverses from the border of the declining trend area, growth to continue in the short term, and will be supported by economic data: the unemployment rate fell to 6.8% from 7.0%, and the New Zealand GDP for the third quarter showed an increase of 0.4% against the forecast -1.3%.

The material has been provided by InstaForex Company -