FX.co ★ Forecast for AUD/USD on April 14, 2020

AUD/USD

The Australian dollar managed to overcome strong technical resistance and now shows the intention to grow to the price channel line at 0.6540. The price was above the MACD line (indicator blue), the balance line (indicator red), and the price channel line at 0.6395. The Marlin oscillator in a growing position.

However, there is a sign that a reversal divergence will form on the four-hour chart, this can be realized in a price reversal from current levels, which will subsequently mean a false exit of the price over the technical lines of the daily scale.

The aussie's continued growth converts the Marlin to standard growth without a reversal pattern. A reliable sign of establishing a medium-term downward trend will be price taking under the MACD line in the area of 0.6280 – the level to which this line is moving. If the price subsequently climbs, then this signal level will also increase. From a practical point of view, it is not advisable to open positions in either sides in this situation.