Forex Analysis & Reviews: Forecast for AUD/USD on December 15, 2020

AUD/USD
Over the past day, the situation for the Australian Dollar has not changed. The quote is at the closing level of Friday last week. But in the technical picture, this increased the reversal potential. On the daily scale chart, the divergence from the Marlin oscillator becomes more distinct. To maintain this scenario, the price will need to be fixed under the nearest support of 0.7500.

The four-hour chart has its own divergence, which increases the probability of a reversal from the current levels.
With the price moving below 0.7500 (December 2017 low), the target of 0.7440 opens with intermediate support on the Kruzenshtern line at 0.7468. I think that in the current situation, we can overcome this line without difficulty. If the price moves below 0.7440, the next target would be at 0.7340.

Analysis are provided by InstaForex