Forecast for AUD/USD on December 29, 2020

AUD / USD

The Australian dollar closed the day down to 16 points yesterday. The main role here was played by the Marlin oscillator, whose signal line turned down from the lower border of its own channel. But the oscillator needs to do a more important thing, that is to gain a foothold under the zero line and to move the promising trend downwards. To do this, the price needs to gain a foothold below the low of yesterday.

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Based on the four-hour chart, the price was fixed under the Kruzenshtern indicator line. The Marlin oscillator is still in the positive territory. Here, the price needs to go under the minimum of yesterday to shift the trend to the zone of a declining trend. We are waiting for developments. The target of 0.7445 is postponed to January next year.

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

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