For Traders

Analytical Reviews

Technical analysis

29.07.202205:05 Forex Analysis & Reviews: Forecast for AUD/USD on July 29, 2022

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.

Yesterday, the Australian dollar settled above the balance and MACD indicator lines on the daily scale chart. The Marlin Oscillator is currently forming a horizontal line, but even if a reversal is planned, the price will be able to reach the first target level of 0.7037 (May 25 low).

And if the price settles above 0.7037, then the growth will continue to the next target level of 0.7137.

The price is growing above both indicator lines on the H4 chart, Marlin looks settled in the positive area.

The Australian dollar has a potential for growth. Commodity prices are rising in the morning and support the Australian currency; oil (WTI) 0.83%, silver 0.77%, yesterday copper rose by 1.39%, iron ore by 3.24%.

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.