Forecast for AUD/USD on July 19, 2021


Last Friday, the Australian dollar, under the broad attack of the US dollar, went beyond the support of 0.7410, which has already opened its way to the target range of 0.7344/64.


This morning the signal line of the Marlin oscillator for the daily timescale has left the boundaries of the wedge and went down. For this reason, the downward movement may be strong enough for the price to surpass the target range without stopping there for a long time and continue the path to the second target of 0.7295 - to the lower border of the price channel.


The aussie continues to decline on the four-hour chart, as usual; the price settled below both balance and MACD indicator lines, the Marlin oscillator is declining in the negative area without signs of a reversal. We are waiting for the price to reach the specified target range of 0.7344/64.

The material has been provided by InstaForex Company -