FX.co ★ Forecast for AUD/USD on September 12, 2022

The Australian dollar showed a strong rise of 94 points on Friday. The stop occurred at the target level of 0.6870. The Marlin Oscillator faces double resistance: in front of the upper border of the descending channel (the signal line exited the wedge anyway), and in front of the border with the growth territory - the zero line.

Overall the 0.6870 level looks very strong, supported by the oscillator, so a reversal from 0.6870 with the first downside target at 0.6755 is the main scenario.

The price is developing above both indicator lines on a four-hour scale, the Marlin Oscillator has turned down and is trying to quickly approach the border with the downtrend territory. We follow the development of events; the movement in any direction should still be confirmed.