FX.co ★ Forecast for AUD/USD on April 16, 2021

AUD/USD

Yesterday, the Australian dollar almost reached the target level of 0.7767 and today, during the Asian session, it is actively winning back yesterday's growth. The Marlin oscillator is turning down on the daily chart. The price was unable to settle above the balance indicator line (red), which shows us that the market's interest in selling is preserved. We are waiting for the price to return to the first bearish target level at 0.7641. As a result, we are waiting for the price to reach the target level of 0.7500.

Attention is drawn to the Marlin oscillator on the four-hour chart, which is rapidly declining after it rapidly grew on April 13-15. Returning to the area under the MACD indicator line (0.7670) will reinforce the intention for the price to fall in the medium term.