Forecast for AUD/USD on January 20, 2021


The Australian dollar rose by 14 points by the end of yesterday, which is not even enough for a pronounced correction. But the Marlin oscillator is in the zone of negative values, which exerts its technical pressure and the continuing price growth can be stopped at the moment of the reversal of the signal line of the oscillator from its zero line. We are waiting for the "Australian" to attack the first target level of 0.7641 and then further move to 0.7465.


On the four-hour chart, the price growth is clearly limited by the balance indicator line, the Marlin oscillator has stopped at the border with the growth territory. The optimal conditions for completing the correction are met. However, since the Marlin has yet to turn around, the potential for continued growth remains, and it is possible to reach the target of 0.7745 along the MACD line. After the price falls below the signal level of 0.7674, the first signal on the completion of the correction will be received. With the price going below 0.7641, the target of 0.7465 opens (minimum on December 21).


The material has been provided by InstaForex Company -