Forecast for AUD/USD on January 18, 2021


The Australian dollar failed to go beyond the control target level of 0.7770 and fell 73 points last Friday. The daily chart shows that for the first time in two and a half months, the Marlin oscillator found itself in the negative zone again. This is a sign that it is easy to overcome the nearest target level (0.7641) without much effort and the price will head towards a more serious support at 0.7465, which will be supported by the MACD indicator line. Getting the price to settle under it opens up a medium-term perspective for the aussie's decline.


The four-hour chart shows that the price settled under the balance (red) and MACD (blue) indicator lines, while the Marlin oscillator penetrated the bears' area. The situation this timescale is completely decreasing, which also creates prerequisites for a successful attack at 0.7641. We are waiting for the price at the target level of 0.7465.


The material has been provided by InstaForex Company -