Forex Analysis & Reviews: Forecast for AUD/USD on August 25, 2021

AUD/USD
The Australian dollar gained 49% on Tuesday, confirming its intention to take the target level of 0.7323. On the daily chart, this is the point of coincidence of the 23.6% Fibonacci level with the MACD indicator line. The Marlin oscillator pondered a little before the border with the growth zone, this is a small sign of a slowdown in price growth, because the aussie is slightly ahead of the market.

The price managed to settle above the MACD indicator line on the four-hour chart. Here, on the example of August 18, consolidation is possible, after which we expect further price growth.

Analysis are provided by InstaForex