FX.co ★ Forecast for AUD/USD on February 16, 2022

The Australian dollar gained 24 points following the weakening of the US dollar by 0.31% on Tuesday. During this time, the signal line of the Marlin Oscillator has reached the upper limit of its own descending channel and today the dilemma is being solved: whether the trend should break upwards with the price's intention to overcome the target level of 0.7227, or turn downwards with the intention to overcome the level of 0.7065. The actual confirmation of the intention to rise will be its transition above the MACD line, above 0.7190.

On a four-hour scale, the price is still staying under the red balance indicator line, which indicates that the market is in the mood to hold short positions. The signal line of the Marlin Oscillator has a probability of a downward reversal from the zero line. The price reversal to the first target of 0.7065 will be confirmed by consolidating under the MACD line, below 0.7126.