PopAds.net - The Best Popunder Adnetwork

Forecast for AUD/USD on July 24, 2024

AUD/USD

The Australian dollar consolidated below the MACD line on the day chart and has almost settled below the target level of 0.6627. Falling commodity prices are pushing commodity currencies down, but after successfully breaking through the consolidation range of 0.6627/90, the price has entered a new range of 0.6578–0.6627.

analytics66a06b9164a34.jpg

Here, the price may wait for the Federal Reserve meeting (on July 31) and then move towards 0.6444 (the low of February 13). It is possible that the price might retest the MACD line from below (0.6647—the peak of April 9), which overall also aligns with a wait-and-see mode.

analytics66a06b83b83e2.jpg

On the 4-hour chart, Marlin rose throughout yesterday, which may signal a potential upcoming correction. Overall, since yesterday, the Australian dollar has been on track for a medium-term decline, roughly to the level of 0.6171—the low of October 2022.

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

from Forex analysis review https://ift.tt/bjx35CY
via IFTTT
LookTutupComment