FX.co ★ Forecast for AUD/USD on February 1, 2021

AUD/USD

Today the Australian dollar opened the week with a falling gap below the 0.7641 target level. At the moment, the gap has already been closed and the price can continue to decline without hindrance. At the same time, the price also moved under the balance indicator line (red), which indicates a change in the current market trend to a downward one. The first target is the MACD line on the daily chart in the 0.7508 area - the low on December 15.

The price reversed from the MACD line on the four-hour chart last Friday. This moment coincided in time with the reversal of the Marlin oscillator's signal line from its own zero line, which is the border of the growing trend area. We are waiting for the price to fall towards the 0.7508 target level.