Forecast for AUD/USD on April 30, 2020

Trading 30 avr 2020 Donner votre avis

AUD/USD

The Australian dollar added more than 60 points on Wednesday and went above one of the lines of the price channel on the daily chart.

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At first glance, the price is ready to go higher and work out the target level of 1.6672 (the low of October and August 2019), but convergence is forming on the Marlin oscillator, because of which even the price exit above the trend line could turn out to be false. Consolidating the price under it (0.6525) will be the first sign of an upcoming reversal. Leaving the price under the signal level 0.6446 (April 14 high) will allow the price to work out the first bearish target 0.6373. Further, it is possible to decline to the MACD line at around 0.6270, then 0.6155.

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The divergence according to Marlin is expressed more clearly and unambiguously on the four-hour chart, moreover, it is threefold. A price reversal down and consolidation below 0.6525 may occur today. The signal level for opening short positions of 0.6446 is very close to the MACD line, which increases the significance of this level. We are waiting for the development of events.

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

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