FX.co ★ Forecast for AUD/USD on July 30, 2021

Forecast for AUD/USD on July 30, 2021


Yesterday, the Australian dollar reached a signal level of 0.7399. At the same moment, the signal line of the Marlin oscillator on the daily chart met the node where the zero line of the oscillator crosses the upper border of the wedge. The price did not dare to go beyond this, expecting new external impulses.

Forecast for AUD/USD on July 30, 2021

The general situation with the US dollar gives priority to the aussie's rising scenario. We are waiting for the price to break through the signal level and Marlin's exit into the growth area. The target is the intersection point of the embedded price channel line with the MACD indicator line - 0.7490.

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Forecast for AUD/USD on July 30, 2021

The first sign of a breakdown of the main trend will be when the price moves below the MACD line on the H4 0.7360 chart. A confirmation sign will be the price decline below the signal level 0.7332, which will also correspond to the price drift below the closest line of the price channel on the daily. The target will be the lower border of the channel at 0.7277.

But while the price settles below the signal level of 0.7399. Marlin is slightly declining, but it has already settled in the positive trend zone.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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