FX.co ★ Forecast for AUD/USD on March 23, 2020

AUD/USD

Last Friday, the price showed corrective growth exceeding 38.2% of the fall branch on March 9-19. Today, in the Asian session, the price is again under the embedded line of the price channel and tends to the lower line to the area of 0.5505. Overcoming the level will open the near target of 0.5395 (August 2001 high), then the decline may continue to the farther target of 0.5170 - to support the next embedded price channel line.

On the four-hour chart, the correctional growth of the aussie did not reach either the balance line (red indicator) or the MACD line (blue indicator), this is a sign of a strong trend. The signal line of the Marlin oscillator has returned to the zone of negative values, we are waiting for the price to decline further.