Forecast for AUD/USD on October 20, 2021


The Australian dollar has noticeably stepped over the target level of 0.7445, which can be taken as the price consolidation above it. Now this level acts as a support for a possible correction. But the main target for the next few days is 0.7566 - the March 25 low.


The price with the Marlin Oscillator formed a weak double divergence on the four-hour chart. This circumstance can delay the growth, translating it into lateral movement for the next day. We do not expect a deep correction, since the MACD line is close to the support at 0.7445, exerting additional upward pressure on the price.


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