FX.co ★ Forecast for AUD/USD on July 20, 2021

AUD/USD

The Australian dollar hit its first bearish target at 0.7344 yesterday. Further supports and targets are close: 0.7295, 0.7244 (high on October 9, 2020), but such a move is also indirectly due to the potential convergence of the price with the Marlin oscillator on the daily timescale (dashed line), which slows down movement and increases intraday volatility.

The price is holding on to the reached level on a four-hour scale, the Marlin Oscillator is turning up, and today a slight correction is likely after the previous three-day decline.