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

AUD/USD

AUD/USD traded above the level of 0.6388 on the daily chart. It started with a price test of the support level, followed by a new upward wave.

The nearest resistance lies at the MACD line (0.6470), while the signal line of the Marlin oscillator moves into the area of an upward trend. Breaking through 0.6470 will likely lead to growth towards 0.6514.

On the four-hour chart, the pair steadily rises within a local price channel, and testing the upper boundary could occur around the level of 0.6514. With the pair currently trading above both indicator lines and the Marlin oscillator approaches zero, further growth may be seen today.