FX.co ★ Forecast for AUD/USD on May 20, 2020

AUD/USD

The Australian dollar has been in a favorable environment for growth in recent days - commodities are getting more expensive and the Chinese economy is showing expansion. Unless, of course, a new episode of the trade war with the United States does not hinder it. Copper adds 0.33%, silver 1.27%, oil 0.64%, iron ore 1.42%.

The price has consolidated above the price channel line on the daily chart, the signal line of the Marlin oscillator moves up after a reversal from the zero neutral line. The 0.6677 target is open.

The main danger to growth is the potential double divergence on the Marlin oscillator. But you just need to use yesterday's move for this price.

The price is trying to overcome the signal level of 0.6562 on the four-hour chart for the second time, and there are no visible signs that it will fail.