Forecast for AUD/USD on July 23, 2021

AUD/USD

The Australian dollar was able to take advantage of yesterday's confusion following the ECB meeting and gained 21 points.

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The price has broken out above the nearest embedded line of the price channel and shows an intention to continue growth until the next embedded line in the 0.7500 area. MACD's line also strives for it. But growth may not take place, as the Marlin oscillator warns about. Its signal line develops in a wedge-shaped structure, at the moment, the line is close to the border with the growth area (0.00), the oscillator may reverse downward at the point of intersection of the upper border of the wedge with the zero Marlin line. With a probability of 35%, an upward exit may occur, and then the 0.7500 target will become the main one.

Returning to the area under the price channel line at 0.7354 will become a condition for further decline to 0.7288.

analytics60fa338946f6d.jpg

The price has broken out above the nearest embedded line of the price channel and shows an intention to continue growth until the next embedded line in the 0.7500 area. MACD's line also strives for it. But growth may not take place, as the Marlin oscillator warns about. Its signal line develops in a wedge-shaped structure, at the moment, the line is close to the border with the growth area (0.00), the oscillator may reverse downward at the point of intersection of the upper border of the wedge with the zero Marlin line. With a probability of 35%, an upward exit may occur, and then the 0.7500 target will become the main one.

Returning to the area under the price channel line at 0.7354 will become a condition for further decline to 0.7288.

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

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