FX.co ★ Forecasts for AUD/USD on April 21, 2021

AUD/USD

The Australian dollar showed high volatility yesterday, with a trading range of 108 points. The upper limit was the target level of 0.7820. Now the price is staying by the balance indicator line. The Marlin oscillator slightly fell yesterday, so it suggests that yesterday's movement was just a correction, respectively, we can expect continued growth today and in the coming days. The first target is 0.7767, then 0.7820, then 0.7850.

The price divergence with the Marlin oscillator on the four-hour chart has worked out and the aussie fell from the local high of the day.

The price fell a bit short of the support of the MACD line, but we can assume that it still found support in this area - there are many record extremes at this level. Pushing the price to settle below the MACD line, below 0.7695, will become a condition for ending the growth and bringing back the decline so it can reach the target level of 0.7641.

So, if the correction is over, which is more likely, then we are waiting for the aussie to rise.