For Traders

Analytical Reviews

Technical analysis

21.05.202005:02 Forex Analysis & Reviews: Forecast for AUD/USD on May 21, 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

The Australian dollar grew by 60 points on Wednesday, and it almost returned to yesterday's opening today in the Asian session. This is a sign that the price will not reach the target level of 0.6677, the aussie aimed to overcome the price channel line in the region of 0.6492, which will be a good reason for continuing the fall to 0.6338. A slightly veiled double divergence is formed on the Marlin oscillator.

The price returned to the signal level of 0.6562 on the four-hour chart - yesterday's exit above it turned out to be false. The MACD indicator line is located at the 0.6492 level taken from the daily time, which strengthens this level. Accordingly, overcoming it will become a significant condition for opening short positions with a target above 0.6338.

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.