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

AUD/USD

Yesterday, the Australian dollar failed to breach the support at 0.6547, confirmed by the false breakout marked by the shadow of the candle on December 7. Now, we are waiting for it to break through the target level of 0.6612 and rise to the level of 0.6693, which corresponds to the December 4 peak.

For the second time, the signal line of the Marlin oscillator is rebounding from the zero line towards growth (arrows on the chart). This is a traditional signal that indicates further upward movement in the oscillator and the price.

If the price consolidates below 0.6547, it will open an alternative scenario for the Australian dollar to fall to 0.6514 and further down to the MACD line at 0.6464.