Forecast for AUD/USD on July 29, 2020


The Australian dollar traded in a 65-point range near the 0.7190 resistance on Tuesday. The Marlin triple divergence has strengthened even more on the daily chart. At the same time, a short-term price entry into the 0.7190-0.7225 range is allowed with a slight exit of the Marlin signal line above the line forming the divergence. A price fall below 0.7070 will be the final signal for a reversal of the trend into a medium-long-term decline.


The price is above the indicator lines of balance (red) and MACD (blue) on the four-hour chart. The signal line of the Marlin oscillator is attacking the border of the bears' territory. This is a signal for the expected success in the attack on the support of the MACD line (0.7124), after which we are waiting for 0.7070 to be overcome.


The material has been provided by InstaForex Company -