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14.10.202005:01 Forex Analysis & Reviews: Forecast for AUD/USD on October 14, 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 broke the target level and support at 0.7190 yesterday, identified by the extremes of September 9, August 13 and July 22. The level is strong, overcoming it, obviously, will cause the price to decrease further. The nearest target is 0.7055. It will be helped by the Marlin oscillator, which has moved into the downward trend zone on the daily chart.

Exchange Rates 14.10.2020 analysis

The decline stopped before the support of the MACD line on the four-hour chart. If the price moves below yesterday's low of 0.7151, it will also correspond to the price moving below this indicator line. This will be a signal for the price to decline further to the designated level of 0.7055.

Exchange Rates 14.10.2020 analysis

Laurie Bailey
Analytical expert of InstaForex
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