Forex Analysis & Reviews: Forecast for AUD/USD on December 30, 2020

AUD/USD
The Australian dollar added 30 points yesterday as the US dollar slightly weakened. Visually, the price shows an intention to reach the target range of 0.7660/75, but the Marlin oscillator is below the lower boundary of its own channel and this factor warns of a high degree of change with this unattainable target.



The four-hour chart shows that there is an increase above the MACD indicator line, which speaks in favor of growth, but the Marlin oscillator has practically fallen into a horizontal trend, which indicates the weakness of the trend, thereby confirming the technical uncertainty of the daily timeframe.



In this situation, it is advisable to wait for clear signs of a trend reversal. Or, to settle above the 0.7675 level when the alternative scenario has been implemented.

Analysis are provided byInstaForex.