Forecast for AUD/USD on Mar 18, 2020



The Australian dollar lost 94 points on Tuesday, gaining ground at a strong 0.6068 level formed by the 161.8% Fibonacci level and the downward price channel line on the daily scale chart. Now the 0.5850 target is open before the price, which is also formed by the convergence point of the lower line of the price channel and the Fibonacci reaction level of 200.0%.

A convergence was formed on the four-hour scale chart using the Marlin oscillator. This is a sign that before the price moves to the next bearish goal, the Australian dollar may correct up to the lines that have become resistances – to the Fibonacci level of 161.8% and the price channel line at the price of 0.6068.


The material has been provided by InstaForex Company –

Source:: Forecast for AUD/USD on March 18,2020

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply