Forecast for AUD/USD on July 15, 2020

AUD/USD

The Australian dollar is rising for the second day. The signal level of 0.7000 (marked on H4) has been overcome, now the aussie is aiming for 0.7080 (July 2019 high) and it is open. Pinning above the level opens the way to the target range of 0.7190-0.7225. If the price growth is quite brisk, we can expect a triple divergence to form on the Marlin oscillator in this range. Accordingly, a reversal in the medium-term decline.

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Marlin is growing aggressively on the four-hour chart. If the price reaches the target level of 0.7080, then Marlin will be high in overbought, an aggressive correction to the current levels (0.7000) or lower is likely.

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