Forecast for AUD/USD on January 21, 2020

AUD/USD

On the daily chart, the price was consolidated under the blue indicator line of MACD, which is an indicator of the trend and acts as an independent support/resistance. The Marlin oscillator is going down in the negative trend zone. The purpose of the movement is to support the embedded line of the price channel in the region of the Fibonacci reaction line of 123.6% at the price of 0.6816. The target level is at the lows of October 2019. Consolidation under the first target opens the second target at 0.6737 – the Fibonacci reaction level of 161.8%.

On a four-hour chart, the price is moving in a downward direction under the indicator lines of balance and MACD, Marlin is also falling. We look forward to further price movement towards the designated goal.

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The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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