30.07.202405:16 Forex Analysis & Reviews: Forecast for AUD/USD on July 30, 2024

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AUD/USD

The Australian dollar spent the entire Monday in a neutral range of 0.6525/78. Today might also be spent anticipating the Federal Reserve meeting, but the price shows a downward trend this morning.

A break below the July 25 low of 0.6517 will signal the price's intention to reach the target level of 0.6444, the February 13 low. The Marlin oscillator on the daily chart is currently following the price and is not showing any pre-emptive signals. On the 4-hour chart, Marlin has slightly climbed above the border of the bullish territory.

If the price falls below the intermediate level of 0.6525, Marlin could fall ahead of the price, pulling it down and preventing it from forming a new consolidation, except at the level of 0.6444. A downward trend is based on the combined signs from both time frames.

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