Forecast for AUD/USD on July 30, 2020
The Australian dollar reached the forming line of the triple divergence yesterday, forming it in an exemplary manner. Now we are waiting for the price reversal down to the target range of 0.6410/80. The goals for the downward movement will still be adjusted, but the closest is 0.7070 – the July 24 low and the June 10 high.
There are no reversal signs on the 4-hour chart. Perhaps it will be the price divergence with the Marlin oscillator. At the moment, the situation is completely upward: the price is above the balance and MACD indicator lines, Marlin is moving sideways in the positive trend zone. The price falling below the MACD line at 0.7142 is a signal for a reversal.
The material has been provided by InstaForex Company – www.instaforex.com