Forecast for AUD/USD on January 7, 2020


The Australian dollar is stubbornly moving up and this gradually nullifies the divergence with the Marlin oscillator. The signal line of the oscillator has already crossed the upper border of its own channel and the price may continue to rise to the target level of 0.7905.


But the price may turn around without reaching this target level, then the exit of the signal line from the descending channel will turn out to be false, as it was on December 22, falling below the lower border of the channel. This moment is in the form of a gray rectangle on the daily chart. Thus, the price is now in the uncertainty zone of 0.7770-0.7905.


The potential of the price divergence with the oscillator is still present on the four-hour chart. This circumstance emphasizes the uncertainty of the moment for one or two days.

The material has been provided by InstaForex Company -