Forex Analysis & Reviews: Forecast for AUD/USD on August 5, 2021

AUD/USD
Yesterday, the Australian dollar fell 15 points under pressure from the US dollar, which gained 0.22%. The aussie has not lost the upward sentiment - the Marlin oscillator has settled in the upward trend zone.

Reaching the target level of 0.7474 in the area of the trend line of the price channel is still the main scenario. A lot of work needs to be done to restore the decline - to go down below the level of the lower line of the price channel at 0.7333.

The price managed to stay above the balance indicator line on the four-hour chart, the Marlin oscillator is currently attacking the border of the growth area, the trend is upward.

Analysis are provided by InstaForex