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20.05.202005:06 Forex Analysis & Reviews: Forecast for AUD/USD on May 20, 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 has been in a favorable environment for growth in recent days - commodities are getting more expensive and the Chinese economy is showing expansion. Unless, of course, a new episode of the trade war with the United States does not hinder it. Copper adds 0.33%, silver 1.27%, oil 0.64%, iron ore 1.42%.

Exchange Rates 20.05.2020 analysis

The price has consolidated above the price channel line on the daily chart, the signal line of the Marlin oscillator moves up after a reversal from the zero neutral line. The 0.6677 target is open.

The main danger to growth is the potential double divergence on the Marlin oscillator. But you just need to use yesterday's move for this price.

Exchange Rates 20.05.2020 analysis

The price is trying to overcome the signal level of 0.6562 on the four-hour chart for the second time, and there are no visible signs that it will fail.

Laurie Bailey
Analytical expert of InstaForex
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