FOREX ANALYSIS BY MARIUS GHISEA (JULY 13-17)

AUD/USD FORECAST

According to the daily chart, AUD/USD is still in downtrend. The MACD is into negative territory and the market price is under EMA 14. The support is at 0.7360 and then the next support is at 0.7285. This last price can indicate oversold level.

At this moment price is stuck in a tight range, according to the H8 chart. The RSI 40 indicates downtrend correlated with the daily chart.