FX.co ★ Forecast for AUD/USD on August 16, 2021

AUD/USD

On the daily scale chart, the signal line of the Marlin Oscillator turns upward from its own neutral line (arrow), which is a sign that the price will continue to rise. The exit above the MACD line (0.7410) opens the way to quite high targets: 0.7520 is a 38.2% retracement level of the entire downward movement since May 10, and 0.7590 is a 50.0% retracement level.

On the four-hour scale, the price is again struggling with the resistances of both indicator lines - the balance line (red) and the MACD line (blue), the Marlin oscillator is growing in the zone of positive values. The trend is upward.