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29.06.2020 04:42 AM
Forecast for AUD/USD on June 29, 2020

AUD/USD

The Australian dollar closed Friday on a black candle, a little more than the white one that was on Thursday. The 0.6900 level was tested from the bottom and fell by 50 points. The Marlin oscillator has strengthened in a downward movement in the negative zone. The market considers 0.6680 as the nearest one in this technical concept.

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Testing the 0.6900 level last Friday was held under the red balance indicator line on the four-hour chart, which indicates a correctional growth not out of the sellers' attention zone - the aussie made a "reversal" to decline further.

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The Marlin oscillator shows horizontal movement in the negative trend zone at the moment - this is an oscillatory consolidation before the expected downward movement.

A direct signal to open a short position is when the price transitions to Friday's low of 0.6842.

Laurie Bailey,
Analytical expert of InstaForex
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