Forecast for AUD/USD on September 1, 2021

AUD/USD

The Australian dollar gained 18 points on Tuesday, hitting the balance indicator line on the daily chart with the day's high. Overcoming this line will mean a shift in market interest in buying the Australian dollar into the mid-term investment horizon. Today it opened above the MACD indicator line, which was the first signal for such a medium-term growth. The closest target is the 38.2% Fibonacci level at 0.7452.

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The price is consolidating at the 23.6% Fibonacci level (0.7321) on the four-hour chart, being above the indicator lines. The Marlin oscillator is turning upward from the border with the bears' territory. We are waiting for the price to rise further.

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

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