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02.02.202105:11 Forex Analysis & Reviews: Forecast for AUD/USD on February 2, 2021

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AUD / USD

Yesterday, the Australian dollar broke the important technical level of 0.7641 that opened the first "bearish" target at the range of 0.7500 / 35, in which the Kruzenshtern line is located.

The growth of today's correction brought the price back above the level of 0.7641 this morning., But this is not yet a turning point, since the movement of the Marlin oscillator fits into the framework of the descending channel of the oscillator. This channel is marked on the chart.

Based on the four-hour scale chart, the price is continually developing under the balance and Kruzenshtern Indicator Lines. The marlin is moving horizontally under the border of the growth area. The correction may continue to the Kruzenshtern line at 0.7680. The RBA meeting may give increased volatility to the Aussie today. The main scenario for the pair is unchanged - a decline in the target range of 0.7500 / 35.

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