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27.01.202105:01 Forex Analysis & Reviews: Forecast for AUD/USD on January 27, 2021

AUD / USD

Since January 8, the Australian dollar has been developing in the range of 0.7641-0.7770. It seems that they are just waiting for the command to move along the new (descending) course. Of course, we would like to hear this command today at the press conference of the head of the Federal Reserve Jerome Powell. However, the meeting is a passing one, without announcing forecasts and traditionally without announcements. However, the investors are not waiting for announcements, they would like to catch some hints on the topic of the next meeting in March, namely, the Fed's intention to establish control over the yield curve on long-term government bonds. Perhaps, Powell will refrain from such hints for now, but will try to restrain the markets with other words.

Exchange Rates 27.01.2021 analysis

Based on the daily scale chart, the Marlin oscillator is already in the negative zone values for the 4th day - in the territory of a downward trend. We are expecting increased pressure on the Australian currency. A decline in the price below 0.7641 will open a target in the area of 0.7508, where the Kruzenstern line is heading.

Exchange Rates 27.01.2021 analysis

While, on the four-hour chart, the price is above the Kruzenshtern line and the Marlin is in the positive zone. But, we can clearly see that the price returns under the Kruzenshtern line and the Marlin is ready to return back to the territory of the declining trend. This is the main scenario. Let's also assume an aggressive short-term price increase to 0.7905 with the traditional goal of speculators to show a false movement with the simultaneous capture of stop losses. We are waiting for developments.

*Účelem zde zveřejněné analýzy trhu je zvýšení vašeho povědomí, nikoli dávání pokynů k obchodování.

Laurie Bailey,
Analytický expert
InstaForex Group © 2007-2021
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