For Traders

Analytical Reviews

Technical analysis

09.09.202106:29 Forex Analysis & Reviews: Forecast for AUD/USD on September 9, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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.

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.

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.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.