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

AUD/USD

The Australian dollar slightly fell on Wednesday, just enough to reach the first target level of 0.7490. But even before that point, the Marlin oscillator had fallen into the horizon on the daily chart, indicating an unlikely slowdown on Thursday.

The aussie should not rush to move down, because the next target is in the range of 1.7400/10 (September 2020 high) and it is advisable to build up strength for such a campaign.

The sideways movement of the Marlin oscillator is more clearly identified on the four-hour chart. Support on June 18-21 is just below the reached level (0.7490). The price is likely to spend the whole day in a narrow range of 25 points in anticipation of tomorrow's key data on US employment.