Forecast for AUD/USD on October 21, 2020

AUD/USD

The Australian dollar tried to gain a foothold below the 0.7058 level yesterday, but the dollar's weakness prevented it from doing so. The price is already rising above this level in today's Asian session. The Marlin oscillator is moving up, and the price could rise to 0.7120, the high on October 19.

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The price has formed a convergence with the oscillator on the four-hour chart. A third reversal of the signal line from the border of the growth trend, but most likely, it won't. We are waiting for the correctional price growth to reach the designated target of 0.7120.

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