Forecast for AUD/USD on July 21, 2020


The Australian dollar rose by 19 points yesterday, but this was enough to shift the indicator technical picture towards growth. Reversal of the Marlin oscillator signal line from the zero line has received confirmation, the nearest target is the 0.7080 level, after which it is possible to form a triple divergence on the Marlin.


The price is pinned above the signal level of 0.7000 on the four-hour chart, with this fact, we accept the scenario that locally increases the price – growth to 0.7080. Moreover, forming a triple divergence by Marlin comes first here, regardless of what price level it will be formed at – exactly at the target level of 0.7080, or above it in the 0.7080-0.7190 range. Visually, the signal line of the Marlin oscillator will touch the forming divergence line when the AUD/USD pair reaches 0.7130, that is, halfway from 0.7080 to 0.7190.


The material has been provided by InstaForex Company -