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15.09.202004:53 Forex Analysis & Reviews: Forecast for AUD/USD on September 15, 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 practically stood still yesterday, hesitating to tackle the MACD line at 0.7322. Such an attempt may take place today and achieving it will provoke further growth to the upper border of the price channel in the 0.7388 area. But with equal probability, the price may turn down from the current levels, since the signal line of the Marlin oscillator may not enter the positive trend zone, or gain a foothold in it.

Exchange Rates 15.09.2020 analysis

The price is trying to break out of the resistance of the MACD line on the four-hour chart. But we can only receive a signal for growth when the price breaks through the area above the 0.7326 level, which is the September 10 high and the resistance of the MACD line on the daily chart.

Exchange Rates 15.09.2020 analysis

If the price fails to break through the area above the strong resistance of 0.7326, a reversal may follow. Here, the signal level is the September 10 low, settling below it opens the bearish target at 0.7110 - the August 12 low.

Laurie Bailey
Analytical expert of InstaForex
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