FX.co ★ Forecast for AUD/USD on February 23, 2021

AUD/USD

The technical picture looks very simple: after the divergence with the Marlin oscillator did not take place, the price moves to the target level of 0.8010 (peak in February 2004 and March 1997). There may already be a correction from this level. If the first target is overcome, the second one will open - 0.8137 (high in January 2018).

The Marlin oscillator has formed a consolidation before entering the overbought area on the four-hour chart. This is a sign of the subsequent penetration into this area of the oscillator with succeeding growth.