Forecast for AUD/USD on June 11, 2021

AUD/USD

The Australian dollar's growth by 25 points on Thursday was stopped by the balance indicator line on the chart of the daily scale.

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The Marlin oscillator is currently showing a sign of a reversal on the way to the border of the growth area. Perhaps the price will not go higher, but if it does, the resistance of the MACD line at 0.7785 looks strong enough to not let the price go even higher. If the price still manages to settle above the MACD line, then it might reach a high target like 0.7880. But the main scenario we see is a decline to the level of 0.7641.

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The price is developing above both indicator lines on the four-hour chart, while the Marlin oscillator is in the zone of positive values. Formally, this means growth, but the price and the oscillator are already showing a downward reversal and the price will still have to go under the MACD line (0.7733) in order for the downward movement to work in full force.

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

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