Forex Analysis & Reviews: Forecast for AUD/USD on August 17, 2021

AUD/USD
Yesterday, the Australian dollar reached the support of the embedded price channel line (0.7320) with a lower shadow on the daily timeframe. This trend line was broken this morning. The signal line of the Marlin Oscillator crossed the border with the area of the downward trend and now a bearish target of 0.7244 opens - the high of October 9, 2020.

There is a downward trend on the four-hour timescale: the price is decreasing under the balance and MACD indicator lines, the Marlin oscillator deepens in the negative zone. We are waiting for the price in the area of the specified target of 0.7244.

Analysis are provided by InstaForex