18.07.202404:57 Forex Analysis & Reviews: Forecast for AUD/USD on July 18, 2024

Relevance up to 22:00 2024-07-18 UTC--4

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AUD/USD

The Australian dollar lost 4 pips at the end of Wednesday, but at the same time it consolidated below the level of 0.6751, which confirmed the intention to extend the decline at least to the first target level of 0.6690.

Surpassing the level will make it possible for the pair to reach the second target at 0.6627. The Marlin oscillator, after forming a divergence on the daily chart, is about to move to the negative half. We are waiting for the pair to correct lower.

On the 4-hour chart, the price has moved down from the balance indicator line, slightly short of the MACD line. Also, the Marlin oscillator moved down without reaching the zero line. This is a sign of the start of a new medium-term trend.

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