Forecast for AUD/USD on January 15, 2021
The growth of the Australian Dollar yesterday was blocked by the black candle of the previous day (Wednesday). At the moment, the price is above the target level of 0.7770, which creates the risk of moving to the target level of 0.7905 (the minimum of August 2008) and this growth fits perfectly into the structure of the development of the Marlin Oscillator. With this, a reversal divergence will be created while fixing the price under 0.7770 will show the intention of the price to move to 0.7641 and 0.7465. The final outcome will only be seen on Monday.
On the four-hour scale chart, the price developed above the balance and Kruzenshtern indicator lines. Fixing the price below 0.7770 will also mean fixing under these indicator lines. In this case, the Marlin will move in the zone of negative values which will create a condition for the beginning of a short-term downward movement.
The material has been provided by InstaForex Company – www.instaforex.com