Forecast for AUD/USD on December 24, 2020


The Australian dollar gained 52 points yesterday, still playing the role of a speculative currency, which it has been successful at in the past three months. However, yesterday, oil provided a little help to the aussie, which grew by 2% on average.


The daily chart shows that the price approached the target level of 0.7600 from below, the signal line of the Marlin oscillator is testing the lower limit of its own channel from below. We do not expect the price to settle above these technical levels, since it is a holiday today in Germany and Switzerland, and is a shorter working day in a number of other European countries and the United States. And if speculators have the desire to take profit in a thin market, then it is more convenient to do so by selling.


The four-hour chart shows that the price surpassed the MACD indicator line, the Marlin oscillator also slightly penetrated the growth zone. But since there is a strong technical level ahead (0.7600), it has a decisive influence. In the event of a price reversal, an exit above the indicator lines will be interpreted as false and, accordingly, will become an independent gain signal in the event of a reverse fall. We are waiting for the development of events.

The material has been provided by InstaForex Company -