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Forecast for AUD/USD on July 26, 2021

AUD/USD

The Australian dollar did not develop an attack on Friday after rising above the embedded price channel line on Thursday. Now, if the price settles, the first target will open along the lower line of the price channel at 0.7286, then, with a high degree of probability, this line will be broken and the target at 0.7244 - the high on October 9, 2020, will be attacked.

analytics60fe1f6b25d12.jpg

A price exit above the Thursday-Friday high of 0.7399 will turn the signal line of the Marlin oscillator back into growth and it will go to reach the upper limit of its own extended wedge. From the upper border of the wedge, there will be another opportunity for a downward reversal of both the oscillator and the price. In this case, the price will not reach the 0.7495 target. Marlin's exit to the zone of positive values will spur the price to attack the upper target at 0.7500.

analytics60fe1f764512e.jpg

The MACD line stopped the price on the four-hour chart. Last Friday, a downward reversal occurred from it. The price went under the balance indicator line, and Marlin turned down.

The main scenario is decreasing, we are waiting for the price to reach the lower border of the price channel at 0.7286.

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