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25.09.202010:27 Forex Analysis & Reviews: Forecast for AUD/USD on September 25, 2020

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AUD/USD

The Australian dollar ended yesterday with a black candle, but there were still 30 points left to the embedded price channel line, which we can not consider as a conditional test of support. The signal line of the Marlin oscillator is turning to the upside, warning that the corrective growth may possibly continue. Perhaps the price will settle in the 0.7065-0.7110 range before moving towards the 0.6970 area.The slowdown confirms yesterday's forecast when it comes to reaching the target level on September 30.

The four-hour chart shows that the price is trying to gain a foothold above the 0.7065 level with the growing Marlin oscillator. Since Marlin belongs to leading indicators, we expect the price to return from the consolidation range down in the first half of next week.

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