Forecast for AUD/USD on February 16, 2021

AUD/USD

On Monday, the Australian dollar gained 18 points, which entirely covered the target range of 0.7765/83. This morning, the price broke through it and went towards the target level of 0.7830. In addition, the Marlin Oscillator is rising in the area of positive levels, which indicates the upward trend.

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The price continued moving up in the H4 chart, following a short consolidation in the target range. The Marlin Oscillator is located in a positive area and has already moved above the false divergence line. Thus, we adhere to the upward trend.

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The material has been provided by InstaForex Company - www.instaforex.com

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