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Forecast for AUD/USD on July 22, 2021

AUD/USD

The Australian dollar fluctuates in a range of two price channel lines on a daily chart. A price delay with a decline will consolidate the formation of price convergence with the Marlin oscillator, which will turn the price into a corrective rise to the upper embedded line of the price channel, to which the MACD line is approaching, to the 0.7500 area. This scenario is gaining momentum.

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The situation is somewhat more complicated on the four-hour chart. The first resistance is the MACD line at 0.7400. Only a transition above it will allow the price to continue to rise to the 0.7500 target. The Marlin Oscillator has come out above the zero line, but has not yet settled above it. A synchronous downward reversal of the oscillator from the zero line is possible with a price reversal from the price channel line on a daily scale. The probability of price growth is 60%. Much will be decided at the European Central Bank meeting.

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