For Traders

Analytical Reviews

Technical analysis

14.07.202105:52 Forex Analysis & Reviews: Forecast for AUD/USD on July 14, 2021

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 dropped 32 points yesterday, which nevertheless showed an inclination towards a downward scenario.

The Marlin oscillator is still inside its own wedge, but the intention to get out of it (to the downside) is indicated by yesterday's movement. The first target at 0.7410 is the July 9th low, then the embedded price channel line at 0.7370.

The price settled below both balance and MACD indicator lines, while the Marlin oscillator consolidated in the downward trend area on the four-hour chart. We are waiting for development according to the main scenario.

Consolidating above the MACD line, above 0.7470, may once again encourage the price to test the price channel line in the 0.7517 area. Consolidating above it will cancel the main descending scenario.

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.