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25.05.202005:00 Forex Analysis & Reviews: Forecast for AUD/USD on May 25, 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 continues to reverse from the May 20 peak, realizing the technical potential of the double divergence on the Marlin oscillator on the daily chart. The closest support is the embedded price channel line at 0.6482. A break of the level opens the possibility of a decline to the next line to the area of 0.6335. The MACD line is located just below this mark, while the area of the second target acts as strong support.

Exchange Rates 25.05.2020 analysis

The price overcomes the support of the MACD line on the four-hour chart, the Marlin oscillator is falling in the negative area. We expect continued price reductions, but the main development may be tomorrow, since it is a public holiday today in the US and the UK.

Exchange Rates 25.05.2020 analysis

Laurie Bailey
Analytical expert of InstaForex
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