Forecast for AUD/USD on October 22, 2021

AUD/USD

The Australian dollar fell by 48 points on Thursday, which blocked the white candlestick on Wednesday. This is a sign that the consolidation, before moving to the target level of 0.7566, may last for a time, perhaps 1-3 days. Formation of such a consolidation is expected above the level of 0.7445. Overcoming 0.7566 opens the target at 0.7646.

A decline below 0.7445 will deepen the correction to 0.7414 - to the strong level of October 15-18 and the first week of August.

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On the four-hour chart, the growth and correction are developing above the MACD indicator line and above the balance line. This is a sign that the price drift below 0.7445 is not very likely. The signal line of the Marlin Oscillator is already trying to get back into the positive area.

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The material has been provided by InstaForex Company - www.instaforex.com

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