Forecast for AUD/USD on December 22, 2020


The Australian dollar yesterday experienced a strong drop of 160 points which was also helped by cheaper oil prices of -1.60%. But then, there was a sharp increase in the price on the formation of a large lower shadow on the daily chart and the price loses 12 points today in the Asian session.

The signal line of the Marlin oscillator on the daily scale touched the lower border of its own channel. A downward exit from it can provoke a repeated strong decline in the price. The first target is 0.7445, then 0.7345.

Based on the four-hour chart, the price returned above the Kruzenshtern line after yesterday's collapse but the Marlin oscillator remains in the negative zone. When the price is fixed under the Kruzenshtern line below 0.7560, there will be a ready signal for a second attack on the target level of 0.7445.

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