Forecast for AUD/USD on December 9, 2020


The Australian dollar did not lose much yesterday, by 21 points, but this decline has significantly strengthened the triple price divergence with the Marlin oscillator, now it has appeared. There are around 40 points left before the oscillator moves into the downward trend zone. The first target is 0.7340, the low on November 30 and the high on November 9 and 17. Getting the price to settle below 0.7340 opens the second target at 0.7255, set by the MACD line. The 0.7222 target level is slightly below it.


The four-hour chart shows that the MACD line has reached the price. Getting the price to settle below this line (yesterday's low) will strengthen the decline to the first target of 0.7340. The Marlin oscillator has settled in the downward trend zone.


The material has been provided by InstaForex Company -