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01.07.202005:05 Forex Analysis & Reviews: Forecast for AUD/USD on July 1, 2020

AUD/USD

The Australian dollar grew by 36 points as a result of yesterday's trade, which was based on the growth of commodities, metals and basic agricultural products without a uniform movement of major world currencies, that is, against the backdrop of the inactivity of the US dollar. Continuing this situation will allow the aussie to reach the target level of 0.7080, but there are no signs of this yet. The Marlin oscillator is growing on the daily chart, but is still in the negative zone.

Exchange Rates 01.07.2020 analysis

Marlin is already in the positive zone on the four-hour chart, and the price is higher than both indicator lines - balance and MACD. The Marlin convergence is weak, it could already be reached, but it has not yet exhausted itself at the moment. A reliable condition for growth to 0.7880 is when the price goes above the June 23 high at 0.6976. A condition for a downward movement is price taking below the signal level of 0.6842. The first target will be the level of 0.6680 - the March 9 peak.

Exchange Rates 01.07.2020 analysis

*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.

Laurie Bailey,
Analytical expert of InstaForex
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