Forecast for AUD/USD on August 12, 2021

AUD/USD

Yesterday, the Australian dollar bounced off the price channel line once again and showed a final daily growth worth 25 points. The Marlin Oscillator has consolidated in the rising trend zone. Now, if the price breaks above the MACD line (0.7416), the price will open targets 0.7520 and 0.7590 - Fibonacci correction levels 38.2% and 50.0%.

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The price settled above the MACD line on the four-hour chart. Also, the Marlin oscillator moved into growth territory. The trend is upward, we expect continued growth to the nearest target at 0.7416.

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

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