FX.co ★ Forecast for AUD/USD on August 24, 2020

AUD/USD

The Australian dollar touched the support of the MACD line with the lower shadow of the candle and was stopped by it last Friday. The Marlin oscillator crossed the border of the bears' territory, which helps to fight this support at the moment. Taking into account that this picture has developed after a five-fold divergence on the Marlin oscillator, it is highly likely for the price to overcome this nearest support (0.7140) and head towards the first goal of 0.6975 (June 23 high).

The price should settle below the 0.7140 level today. A consolidation occured under the indicator lines on the four-hour chart, Marlin in the downward trend area. These terms contribute to implementing the aussie's next task.