FX.co ★ Forecast for AUD/USD on April 13, 2020

AUD/USD

Last Friday, the Australian dollar touched the MACD line on the daily chart. From this line, a price reversal is possible with the resumption of the medium-term downward movement with the targets of 0.5815, 0.5455. But the first goal on this path is the first line of the price channel at around 0.6185. The possibility of a reversal from current levels is indicated by a downward reversal of the Marlin oscillator. There is also a slight increase in the price to the price channel line at 0.6395, which will not affect the oscillator readings.

The conditions for a steady decline have not yet formed on the four-hour chart. This condition could be a decrease in the price under the MACD line around the level of 0.6215 (March 31 high). The Marlin oscillator will already be in the negative trend zone at this time.

It is possible to open short positions with the price going below 0.6215. Stop loss 0.6260, take profit before 0.5815.