For Traders

Analytical Reviews

Technical analysis

26.05.202005:04 Forex Analysis & Reviews: Forecast for AUD/USD on May 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

The Australian dollar took advantage of the lull in the market and slightly grew on Monday and this morning. A double divergence on the Marlin oscillator exerts pressure on the price on the daily chart, so the 0.6677 level (the goal of a growing trend) is unlikely to be achieved. The price should work out and gain a foothold at the 0.6478 level, then the prospect of a medium-term decline will open up for the aussie.

The price intensified growth after a reversal from supporting the MACD line on the four-hour chart, which was also helped by today's data on the New Zealand trade balance, which showed growth from $722 million to $1267 million in April while expectation was at $1250 million. Marlin in the growth zone. The price will take at least a day to return to starting positions before the assault on the MACD line support (0.6540).

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.