FX.co ★ Forecast for AUD/USD on September 16, 2022

The aussie resolutely headed towards the 0.6686 target support (March 2020 high) on Thursday, this level was reached this morning. The Marlin Oscillator is decreasing in its own descending channel on a daily scale, we are waiting for the signal line to work out its lower border.

At a low, this can happen when the price reaches the next support at 0.6640 (if the price develops a sideways movement), the target level of 0.6565 looks like the best option.

The price turned down on the H4 chart yesterday after touching the MACD indicator line. This is a fairly common sign of the upcoming medium-term movement. The Marlin Oscillator, after a narrow consolidation, is ready to develop a new branch of decline. The downward scenario will be confirmed if the price breaks the level of 0.6686.