Forecast for AUD/USD on February 12, 2021


The Australian dollar still decided to work out the target range of 0.7765 / 83 and this made it clear that the formed divergence on the four-hour scale gives a reversal signal. A decrease in the price below the signal level of 0.7714 will be a condition for opening short positions. The target is the 0.7625 / 41 range (the peak on December 17).


Based on the daily chart, the Marlin oscillator stayed in the positive zone as the reversal is slow. Perhaps, the moment to open the sale will only start tomorrow.


The material has been provided by InstaForex Company -