Forecast for AUD/USD on June 17, 2021

AUD/USD

The Australian dollar lost 78 points yesterday, consolidating below the target level of 0.7641. Now we are waiting for the next step - reaching the target level of 0.7558 - support of the embedded line of the descending price channel and the low on December 28, 2020.

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The Marlin oscillator is slightly turning up, which may indicate that the price could settle before the subsequent decline. Yesterday's support at 0.7641 limits growth.

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The readings on the four-hour timescale are identical to the daily ones: the price turned down from the balance indicator line, the Marlin oscillator turns up. After surpassing yesterday's low of 0.7599, the target opens at 0.7558. Perhaps the goal will be achieved tomorrow.

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

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