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31.08.202105:25 Forex Analysis & Reviews: Forecast for AUD/USD on August 31, 2021

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AUD/USD

The Australian dollar touched the point of intersection of the 23.6% Fibonacci level with the MACD line with yesterday's high and dropped 15 points. But the Marlin Oscillator does not show a reversal, the price is preparing to overcome the resistance reached at 0.7321. The success of this venture may be accompanied by an increase to the next Fibonacci level of 38.2% at 0.7452.

Exchange Rates 31.08.2021 analysis

On the four-hour chart, the price is consolidating below the 0.7321 level, the Marlin oscillator turns up without crossing the zero line - the border with the territory of the downward trend. We are waiting for further price growth.

Exchange Rates 31.08.2021 analysis

Laurie Bailey
Analytical expert of InstaForex
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