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16.06.202105:53 Forex Analysis & Reviews: Forecast for AUD/USD on June 16, 2021

AUD/USD

The aussie is moving towards its first target of 0.7641, identified at the 17 December 2020 high. After consolidating below the level, the price will continue to move towards the second target of 0.7565 - the low on February 2, 2021. The price is below the indicator lines, the Marlin oscillator goes deep into the bearish territory.

Exchange Rates 16.06.2021 analysis

Corrective signs are outlined on the four-hour chart: the Marlin oscillator has turned upward and creates the appearance of an intention to enter the upper half of growth.

Exchange Rates 16.06.2021 analysis

The decline will probably not continue until the event from the US central bank. We are waiting for the development of events, the signal for the continuation of the decline will be when the price crosses the area under yesterday's low of 0.7675.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
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