FX.co ★ Forecast for AUD/USD on July 21, 2022

The Australian dollar is currently in a neutral range between the target levels of 0.6830 and 0.6950. Accordingly, overcoming the support at 0.6830 will send the price into a medium-term decline with the nearest targets 0.6755 and 0.6685, and an exit above 0.6950, to which the MACD line is approaching and strengthening it, opens the way to 0.7037 and further to 0.7137.

The Marlin Oscillator on the daily timeframe has already settled in the positive area, which increases the likelihood of at least an attempt to overcome the resistance of 0.6950. The attempt may fail, and then the observed exit of the oscillator into the growth zone will turn out to be false, and the price will return to 0.6830. Obviously, the Australian dollar is watching the European market today, as the European Central Bank will announce its decision on monetary policy.

The price is rising above both indicator lines on the four-hour chart, the Marlin Oscillator has discharged from the overbought zone and is ready to continue rising. The aussie's mood is still optimistic, it is counting on the positive course of the European currencies at the ECB meeting, but remains vigilant.