21.07.202004:53 Forex Analysis & Reviews: Forecast for AUD/USD on July 21, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

AUD/USD

The Australian dollar rose by 19 points yesterday, but this was enough to shift the indicator technical picture towards growth. Reversal of the Marlin oscillator signal line from the zero line has received confirmation, the nearest target is the 0.7080 level, after which it is possible to form a triple divergence on the Marlin.

The price is pinned above the signal level of 0.7000 on the four-hour chart, with this fact, we accept the scenario that locally increases the price – growth to 0.7080. Moreover, forming a triple divergence by Marlin comes first here, regardless of what price level it will be formed at – exactly at the target level of 0.7080, or above it in the 0.7080-0.7190 range. Visually, the signal line of the Marlin oscillator will touch the forming divergence line when the AUD/USD pair reaches 0.7130, that is, halfway from 0.7080 to 0.7190.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.