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18.08.202011:54 Forex Analysis & Reviews: Forecast for AUD/USD on August 18, 2020

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AUD / USD

The Australian dollar is very close to the target level of 0.7240 this morning. The price will be allowed to work out the subsequent target 0.7296 if the level will be broken through, and then a five-fold divergence will be formed with the Marlin oscillator. However, it is the potential impossibility of the market to form such a rare pattern that can turn the "Australian" currency from the current levels to the lower target of 0.7110 - the minimum on August 12, which coincides with the MACD indicator line.

On the four-hour (H4) chart, the price is in an upward position for all indicators, but the signal line of the Marlin Oscillator begins to turn down, which may be the first sign of a price reversal from current levels, even if only potential. A more effective signal for a reversal can be said only after the price falls under the MACD line at 0.7174.

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