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20.07.2021 06:10 AM
Forecast for AUD/USD on July 20, 2021

AUD/USD

The Australian dollar hit its first bearish target at 0.7344 yesterday. Further supports and targets are close: 0.7295, 0.7244 (high on October 9, 2020), but such a move is also indirectly due to the potential convergence of the price with the Marlin oscillator on the daily timescale (dashed line), which slows down movement and increases intraday volatility.

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The price is holding on to the reached level on a four-hour scale, the Marlin Oscillator is turning up, and today a slight correction is likely after the previous three-day decline.

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Laurie Bailey,
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