FX.co ★ Forecast for AUD/USD on August 4, 2021

AUD/USD

On Tuesday, the Australian dollar gained 29 points against the markedly neutral state of the rest of the currencies market and against falling commodity and gold prices. Such confidence to the aussie was given by the RBA by a statement on the continuation of the current policy of reducing the purchase of bonds to its balance sheet without changes.

On the daily chart, the signal line of the Marlin Oscillator has entered the zone of positive values and above the upper border of the narrowing channel. The north vector has now been reinforced. The target is the embedded line of the price channel at 0.7480.

On the four-hour chart, the price has settled above the balance line with the Marlin Oscillator line fixed in the growth zone. The situation is completely upward in this timeframe. We are waiting for the continuation of growth towards the designated goal.