For Traders

Analytical Reviews

Technical analysis

23.09.202005:18 Forex Analysis & Reviews: Forecast for AUD/USD on September 23, 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 rapidly fall to the target range of 0.7065-0.7110, which is formed by the lows of July 24 and August 12. According to the main scenario, we expect the price to fall to the embedded line of the price channel in the 0.6970 area.

The Marlin oscillator is already entering the oversold zone on the daily chart, therefore, we expect a deep correction of the Australian dollar from the 0.6970 level back to the 0.7065-0.7110 range.

The four-hour chart shows that there are no clear indications of a reversal for the leading Marlin oscillator, which makes it possible for the aussie to reach the target range by the end of the week. We expect it to reach 0.6970 on Tuesday, September 29th.

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.