Forecast for AUD/USD on May 13, 2020

Posted On 12 May 2020

AUD / USD

The Australian dollar traded in the range of 105 points on Tuesday, closing the day with a decrease of 15 points. The immediate goal of the decline is the nested price channel line at 0.6355, and below it is the second goal along the MACD line, in the region of 0.6255. The signal line of the Marlin oscillator has not left the territory of growth yet, so perceive the decline with caution.

On the four-hour chart, the Marlin oscillator has already penetrated the zone of the downward trend, but the quotes were higher than the indicator lines, which indicates that the short-term trend is still upwards. Change will occur after a consolidation below the MACD line, but since it is close to yesterday’s low, the direct signal for sales is the intersection of quotes at 0.6433. Movement below 0.6355 launches a medium-term reduction plan.

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

Source:: Forecast for AUD / USD on May 13, 2020

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