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FX.co ★ Forecast for AUD/USD on October 22, 2021

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Forex Analysis:::2021-10-22T03:31:59

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.

Forecast for AUD/USD on October 22, 2021

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.

Forecast for AUD/USD on October 22, 2021

Analyst InstaForex
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