FX.co ★ Forecast for AUD/USD on June 22, 2021

AUD/USD

Yesterday, the Australian dollar seemed to have completed a correction ahead of the embedded line of the price channel line after the previous weekly decline, and now it is ready to surpass the target level of 0.7490. Consolidating below it opens a second target in the 0.7400/10 range, which coincides with the lower line of the price channel.

On the four-hour timescale, the signal line of the Marlin oscillator barely reached the zero line that separates the downward trend from the upward trend. After the impulsive decline at the Federal Reserve meeting, it is logical to expect a slower fall. The task is to settle below the target level of 0.7490. This can even be done tomorrow.