FX.co ★ Forecast for AUD/USD on September 14, 2023

AUD/USD

From a technical perspective, yesterday told us quite a lot about the short-term outlook for the Australian dollar. With an extended lower shadow, the price touched the support level at 0.6388, afterwards it started to gain momentum this morning, already testing the nearest peak from September 11th.

The signal line of the Marlin oscillator has started to rise further. If this slope continues, the price may surpass the resistance of the MACD line (0.6534) and aim for the resistance at 0.6576 (April 28th low).

On the 4-hour chart, there has been a discharge (release of tension) of the Marlin oscillator (green arrow), and a new upward wave is now developing, likely into the overbought territory. The price has breached the resistance of the MACD line, momentarily dipping below it. The pair is experiencing an uptrend.