Forecast for AUD/USD on December 23, 2020

AUD / USD

The Australian dollar continued to decline yesterday following the fall of European currencies. The expected exit of the signal line of the Marlin oscillator from its own channel went down. A little more and the Marlin will be in the zone of a declining trend. The nearest target is AUD / USD 0.7445, then 0.7345.

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Based on the four-hour chart, the price is fixed under the balance line and the Krusenshtern line, the Marlin oscillator pulls the price deeper down. We are waiting for a downward price development in the coming days. With the price moving under the Kruzenshtern line on the daily scale below 0.7285, the downward trend movement will take on the character of a medium-term one.

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