FX.co ★ Forecast for AUD/USD on December 18, 2023

AUD/USD

The Australian dollar has settled above the level of 0.6693. The Marlin oscillator has turned downward but is currently in a position to rise. The pair can reach the target level of 0.6775. The next target will be 0.6815. Achieving this level will also mean reaching the upper band of the price channel.

If the price consolidates below 0.6693, it may switch the main scenario to a downward alternative – the price will try to reach support at 0.6612 near the lower band of the price channel.

On the 4-hour chart, the price is consolidating above the support level of 0.6693. Both indicator lines are pointing upward. The Marlin oscillator has discharged from the overbought territory; now it can continue to rise.