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01.07.202005:05 Forex Analysis & Reviews: Forecast for AUD/USD on July 1, 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 grew by 36 points as a result of yesterday's trade, which was based on the growth of commodities, metals and basic agricultural products without a uniform movement of major world currencies, that is, against the backdrop of the inactivity of the US dollar. Continuing this situation will allow the aussie to reach the target level of 0.7080, but there are no signs of this yet. The Marlin oscillator is growing on the daily chart, but is still in the negative zone.

Exchange Rates 01.07.2020 analysis

Marlin is already in the positive zone on the four-hour chart, and the price is higher than both indicator lines - balance and MACD. The Marlin convergence is weak, it could already be reached, but it has not yet exhausted itself at the moment. A reliable condition for growth to 0.7880 is when the price goes above the June 23 high at 0.6976. A condition for a downward movement is price taking below the signal level of 0.6842. The first target will be the level of 0.6680 - the March 9 peak.

Exchange Rates 01.07.2020 analysis

Laurie Bailey
Analytical expert of InstaForex
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