FX.co ★ Forecast for AUD/USD on December 22, 2022

Yesterday, the Australian dollar reached the target support at 0.6642 and is now trying to rise above resistance at 0.6730. Once it settles above this level, it can continue rising to the nearest resistance at 0.6799. In this case, the Marlin oscillator will be in the positive area (above the zero line) and after reaching 0.6799, AUD will be able to take off in the range of 0.6894-0.6917.

But it is currently too early to speak about growth, maybe the price will go under 0.6730, because Marlin is quite stable in the negative territory. The key level for the short-term downtrend is 0.6590. The MACD line is close to it, and from this level we will find out whether the price reversal will be a medium-term growth, or if we will see a medium-term decline when the price crosses the supports.

On the four-hour chart, the price moved above the MACD line, the Marlin oscillator in a strong rising position. This is the first signal of the continuation of the local growth to the nearest level of 0.6799 (November 15 high).