26.02.202007:00 Forex Analysis & Reviews: Forecast for AUD/USD on February 26, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

AUD/USD

In the last two sessions, the Australian dollar has consolidated under the enclosed line of the price channel, in the range of Fibonacci levels of 238.2-223.6%. The Marlin oscillator forms a convergence, but it looks weak in the context of global decline. The immediate goal of AUD/USD is represented by a range of Fibonacci levels of 271.0-261.8%, in the price range of 0.6536/52. Furthermore, it is possible to fall to the embedded line of the price channel of 0.6457, to the area of the Fibonacci level of 314.0%.

On the four-hour chart during the time of consolidation, the Marlin oscillator managed to discharge without leaving the negative trend territory. With the price breaking the lower boundary of consolidation (0.6586), the target opens at 0.6536/52.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.