Forex Forecast: (AUD/USD) Australian Dollar To US Dollar - 18/07/22

The RBA Surprised With A Smaller 25 bp Hike , Sterling (GBP) Rose, The USD Has Weakened

Relevance up to 04:00 2022-07-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

After the aussie's growth by almost 50 points last Friday, now the price continues to rise in today's Asian session and is approaching the target level of 0.6830 (low of May 12). The Marlin Oscillator on the daily timeframe is approaching the border with the growth territory, overcoming which may develop a correction to the next target level of 0.6951.

 

Exchange Rates 18.07.2022 analysis

 

The MACD indicator line is approaching this level. If the price reaches the target, then we expect it to turn down, into a new wave of decline. The move towards 0.6951 will be jerky as this was in the 0.6951-0.6830 range of the June 22-July 5 decline.

 

Exchange Rates 18.07.2022 analysis

 

The price has consolidated above the balance and MACD indicator lines on the four-hour chart, the Marlin Oscillator is growing in the positive area. Consolidating above 0.6830 will start the chase to the 0.6951 target level. Returning to the area below 0.6755 will mean that the price intends to reach 0.6686 and then 0.6640.

 

Read more: https://www.instaforex.eu/forex_analysis/316360

The RBA Surprised With A Smaller 25 bp Hike , Sterling (GBP) Rose, The USD Has Weakened

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