Forecast for AUD/USD on December 18, 2020


The Australian dollar rose 48 points on Thursday. The price may not reach the 0.7660/75, since the signal line of the Marlin oscillator has exactly worked out the forming divergence line and turned away from it. Getting the price to settle below 0.7600 will be the first sign that the 0.7500 level will be reached.

The four-hour chart shows that on the way to the 0.7500 target level, there is a support for the MACD line ahead of the price at 0.7545. The price can surpass this support in order to reach the lower end of the range on December 11-16 (gray area). Getting the price to settle below it, which means below the 0.7500 level, opens further prospects for the price to fall.

Also on the H4 chart, a price reversal divergence with the Marlin oscillator formed. Divergences of two time frames greatly enhance the reversal moment.

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