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09.09.2021 06:29 AM
Forecast for AUD/USD on September 9, 2021

AUD/USD

On Wednesday, the US dollar index rose 0.19% on closing positions ahead of today's European Central Bank meeting. The Australian dollar lost 20 points there. At the moment, the price is in the range of the three-week consolidation of July-August, therefore, the price reversal to the upside, if the ECB's super soft policy is announced, may occur without preliminary working out any support, for example, the Fibonacci level of 23.6%, since the accumulation range itself is a range of support. We are waiting for the aussie to rise to the nearest target of 0.7452. A price breakthrough above this level opens the second target at 0.7558 - 50.0% Fibonacci level on the daily chart.

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The price is staying on the MACD indicator line on the four-hour chart. The signal line of the Marlin oscillator lies sideways in the lower half of the indicator - with the highest probability of an upward reversal.

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We can talk about breaking the upward trend after the price drops below the MACD line on the daily scale, below the level of 0.7290.

Laurie Bailey,
Analytical expert of InstaForex
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