Forecast for AUD/USD on June 29, 2020

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AUD/USD

The Australian dollar closed Friday on a black candle, a little more than the white one that was on Thursday. The 0.6900 level was tested from the bottom and fell by 50 points. The Marlin oscillator has strengthened in a downward movement in the negative zone. The market considers 0.6680 as the nearest one in this technical concept.

Testing the 0.6900 level last Friday was held under the red balance indicator line on the four-hour chart, which indicates a correctional growth not out of the sellers’ attention zone – the aussie made a “reversal” to decline further.

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The Marlin oscillator shows horizontal movement in the negative trend zone at the moment – this is an oscillatory consolidation before the expected downward movement.

A direct signal to open a short position is when the price transitions to Friday’s low of 0.6842.

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

Source:: Forecast for AUD/USD on June 29, 2020

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