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27.05.202005:05 Forex Analysis & Reviews: Forecast for AUD/USD on May 27, 2020

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AUD/USD

The Australian dollar grew by 107 points on Tuesday, with the day's peak having worked the first target level of 0.6677. Overcoming the level opens the second target of 0.6820. But according to the Marlin oscillator, a triple divergence has already formed, which is the main technical factor for a reversal from the current level.

The reversal scenario is opposed by the Marlin oscillator itself; the second rebound of the oscillator signal line occurred from the zero line, overcoming the trend-forming line in turquoise color, the divergence will be broken and the Marlin trend will be upward.

The price is above the indicator lines of balance and MACD on the four-hour chart, according to Marlin, the divergence. Departure of the price under the MACD line (0.6570) will be the first sign of the price's intention to move down to goals 0.6330, 0.6110. The first objective of the decline is to support the embedded price channel line at 0.6478. We are waiting for the development of events.

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