FX.co ★ Forecast for AUD/USD on September 12, 2023

AUD/USD:

The Australian dollar has finally managed to break above the resistance at 0.6388, and at the same time, the Marlin oscillator has entered positive territory. Together, these signals fuel the pair's succeeding growth. The nearest target is the 0.6493 level.

Overcoming this level opens up the target of 0.6570. The resistance of the MACD line becomes an intermediate target (0.6533). On the 4-hour chart, the price has settled above the balance line and is currently trading above it, maintaining market balance in favor of growth. The Marlin oscillator is gradually decreasing with a slight slope.

A base is being prepared for a bullish breakout to overcome the resistance of the MACD line, which was quite overwhelming for the price on Monday (0.6452). Consolidation above yesterday's high (0.6452) paves the way for the next target at 0.6493, then 0.6533.