Forecast for AUD/USD on June 21, 2021


The price went below the MACD indicator line on the weekly chart. This is a sign of a trend reversal into a medium-term or even long-term decline:


The price stuck at the target level of 0.7490 on the daily chart. The price is likely to correct a bit before falling further.


The correction is limited by the April 1 low, the 0.7533 level. After its completion, we are waiting for the price to fall in the target range of 0.7400/10, the reference point of which is the peak on September 1, 2020. The target range coincides with the embedded line of the descending price channel.


A developing correction is visible on the four-hour chart. It is helped by the growing Marlin oscillator. The relatively fast growth of the oscillator indicates, first of all, its discharge after an intense price decline. Upon completion of this discharge, the oscillator will be ready to decrease again.

The material has been provided by InstaForex Company -