AUD/USD Forecast for November 18, 2020

AUD / USD The Australian Dollar lost 20 points yesterday. Yesterday's peak allowed us to form a divergence with the Marlin oscillator. To fix it and actually turn the market down, the price needs to be fixed under the Kruzenshtern line-- below 0.7264-- and then fall below the nearest target level of 0.7222 at least on November 12-13. The nearest target is 0.7120.

On the four-hour chart, the price is already attacking the Kruzenshtern line at 0.7275. Note that the Krusenstern lines on both time charts almost coincide in price, which makes the 0.7264/75 range particularly important.

Fixing under the specified range can trigger a strong drop in the price. The signal line of the Marlin oscillator on H4 has already entered the zone of negative values. The probability of a downward scenario is 80%.

Analysis are provided by InstaForex