FX.co ★ Forecast for AUD/USD on July 28, 2021

AUD/USD

The Australian dollar closed the day with a decrease of 20 points, trying to attack the support of the embedded price channel line with the lower shadow of the daily bar.

The attack turned out to be weak, this morning the price is growing with the support of the rising Marlin oscillator. The oscillator itself is preparing to exit the zone of negative values and from the wedge-shaped channel upwards according to external signs. After this happens, the 0.7493 target will open – the point of intersection of the price channel line with the MACD indicator line. At this moment, the price will cross the top level of 0.7399 on the 22nd.

The price is consolidating under the MACD line on the four-hour chart. Consolidating above it, above the 0.7373 mark, organizes an attack on 0.7399. The Marlin oscillator retained its influence in the growth zone, there was no decline in the red territory.

A reversal of the price down after an unsuccessful attack at 0.7399, as well as a reversal of the Marlin from the upper border of the channel on the daily chart, is possible, but now this is an alternative scenario with a probability of 35%.