FX.co ★ Forecast for AUD/USD on February 26, 2020

AUD/USD

In the last two sessions, the Australian dollar has consolidated under the enclosed line of the price channel, in the range of Fibonacci levels of 238.2-223.6%. The Marlin oscillator forms a convergence, but it looks weak in the context of global decline. The immediate goal of AUD/USD is represented by a range of Fibonacci levels of 271.0-261.8%, in the price range of 0.6536/52. Furthermore, it is possible to fall to the embedded line of the price channel of 0.6457, to the area of the Fibonacci level of 314.0%.

On the four-hour chart during the time of consolidation, the Marlin oscillator managed to discharge without leaving the negative trend territory. With the price breaking the lower boundary of consolidation (0.6586), the target opens at 0.6536/52.