FX.co ★ Forecast for AUD/USD on July 11, 2023

AUD/USD

The Australian dollar is below the resistance area of 0.6704/12 and is waiting for other counter-dollar currencies to stop rising so that it can build a downward movement. If other currencies extend growth, then, after consolidating AUD/USD above 0.6704/12, the aussie can rise to 0.6755. If the AUD holds, then consolidation below 0.6644/54 will open the target set by the MACD line - 0.6605.

The Marlin oscillator naturally settles into a sideways movement, but this flat is formed under the zero line, creating a perspective for the subsequent development of a downward movement.

On the four-hour chart, yesterday's attempt to fall further was held back by the MACD line. This line is quite strong, overcoming it requires help from external markets. For now, we are waiting for the pair to continue moving sideways between the support areas of 0.6644/54 and resistance of 0.6704/12. The Marlin oscillator is wound up on the zero line, emphasizing the neutral state of the current situation.