Forecast for AUD/USD on July 28, 2020

AUD/USD

The Australian dollar gained 53 points yesterday, taking advantage of the greenback's weakness - the dollar index lost 0.74%. The price is still hesitant to make even a small cross on the 22nd, having penetrated the 0.7190-0.7225 range. But even now, the triple divergence is still in force; a downward reversal can take place without a local overshoot. Price taking below 0.7075 will become a signal for this. In this case, the aussie's closest target will be the 0.6900 level.

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The price entry into the 0.7190-0.7225 range will lead to forming a divergence on the four-hour chart. This can be a turning point at a given working scale.

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