FX.co ★ Forecast for AUD/USD on July 27, 2021

AUD/USD

Yesterday, the Australian dollar pierced the lower shadow of the embedded price channel line on the daily chart and ended the day with growth. This is a sign of further upward movement.

The target may be the upper line of the price channel to which the MACD indicator line is approaching. The place of their intersection is the 0.7495 mark. In this case, the Marlin oscillator overcomes both the border of the growth area and the upper border of its narrowing channel.

The price managed to settle above the MACD line on the four-hour chart. This is still an insufficient condition for further growth, since there is an ambiguous situation on the daily scale.

The aussie could fall after the price drops below yesterday's low of 0.7332. In this case, the target will be the same - 0.7244/78. Obviously, investors are waiting for the results of tomorrow's Federal Reserve meeting.