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Expert In



Forecast for AUD / USD pair on August 14, 2019

AUD / USD pair

The Australian dollar gained 46 points yesterday, gaining a foothold over the correction level of 23.6%. The price opened the target to 0.6832 with the correction level of 38.2%, which coincides with the low of June 18. At least three equal-sized scenarios are currently opened before the price.


First, an increase to 0.6832 and a reversal to the area of 0.6737/50 is likely to happen. In this scenario, convergence on the Marlin oscillator is formed on a four-hour chart. Second, the price overcoming the first target and growing to the next target area of 0.6890 then to the point of convergence of the Fibonacci level of 50.0%, where two lines of price channels and the indicator line of MACD are found. The third scenario is a reversal down from current levels to the target range of 0.6737 / 50. Moreover, there can be both an increase to 0.6832 from this range and overcoming with a decrease to 0.6678 towards the area of convergence of the trend line of the falling price channel and the Fibonacci level of 0.0%.


The multiplicity of such scenarios is currently indicated by Marlin oscillators on the daily and four-hour charts. In the current situation they develop in some isolation from the price trend and Marlin is one of the leading indicators in its predicted purpose.

The material has been provided by InstaForex Company -