Forecast for AUD/USD on August 5, 2021

AUD/USD

Yesterday, the Australian dollar fell 15 points under pressure from the US dollar, which gained 0.22%. The aussie has not lost the upward sentiment - the Marlin oscillator has settled in the upward trend zone.

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Reaching the target level of 0.7474 in the area of the trend line of the price channel is still the main scenario. A lot of work needs to be done to restore the decline - to go down below the level of the lower line of the price channel at 0.7333.

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The price managed to stay above the balance indicator line on the four-hour chart, the Marlin oscillator is currently attacking the border of the growth area, the trend is upward.

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

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