Forecast for AUD/USD on September 14, 2020

AUD/USD

The Australian dollar slightly rose last Friday, but did not go beyond the limits of the previous day. The MACD line stopped the growth on the daily chart.

The signal line of the Marlin oscillator is reflected down from the neutral line for the second consecutive time. The potential for a reversal remains. The first target for the downward movement will be the Aug 12 low at 0.7110.

Buyers are primarily concerned with the Australian dollar. The price is above the balance indicator line on the four-hour chart. If the price moves below the low of 0.7249, it is likely to shift under the balance line, which will make it much easier for it to prepare the base for movement towards the designated target of 0.7110 (August 12 low). Leaving the price below 0.7249 can also take the Marlin oscillator into the negative zone, that is, the market will receive an additional technical sign of further decline.

The material has been provided by InstaForex Company - www.instaforex.com