FX.co ★ Forecast for AUD / USD pair on July 19, 2019

AUD / USD pair

On Thursday, the Australian dollar followed the rest of the market and grew by 66 points. The falling price channel was broken and now, it simply disappeared. It stopped at a price level of 0.7086, which was the minimum of September 11, 2018. Overcoming this level will allow the price to rise to the next similar level of 0.7165, which was the minimum of November 13, 2018, and it corresponds to the maximum on October 17 of the same year with a difference of 4 points.

Price reversal from 0.7086 is quite possible. The main (and so far the only) sign of this may be the emerging double divergence along the Marlin oscillator with the target (on a decline) to the MACD of 0.6947.

On the four-hour chart, there is also a divergence. The symptom is weak but it can develop during the day. When the price overcomes the MACD line at the price of 0.7024, it signals a steady decline, then opens the goal to 0.6947.