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04.07.201906:58 Forex Analysis & Reviews: Forecast for EUR/AUD pair on medium-term

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EUR / AUD pair

The EUR / AUD pair turned sharply downward on June 21 with the formation of a divergence in the Marlin oscillator. Yesterday, the price fell by 92 points against the general calm background for the rest of the foreign exchange market (The AUD/USD pair grew by 36 points). This is a good sign of further active cross-rate decline. The immediate goal is the nested line of the price channel in the area of 1.5760. In overcoming the support, it opens the second target of the downward nested line at 1.5555. The price level of 1.5525 is slightly lower - at least on November 15, 2018. It also close to the highs of December 20-21, 2017.

On the four-hour chart, the price drops below the balance lines and MACD. The Marlin oscillator is in the negative zone. From the current levels, a slight upward correction is possible to discharge the oscillator before further reducing it.

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