Forecast for AUD/USD on September 8, 2021

AUD/USD

The Australian dollar lost 53 points yesterday as the US currency (dollar index) appreciated 0.34%. At yesterday's meeting, the Reserve Bank of Australia announced the continuation of monetary policy tightening - while maintaining the base rate by 0.1%, the central bank reduced bond purchases by $1 billion a week, while slightly extending the program itself until February.

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On the daily scale chart, the price turned up from the balance indicator line, the Marlin oscillator also turns up. The price is set to go above the Fibonacci level of 38.2% (0.7452) once again, settle above it and continue to grow to the next level of 50.0% at the price of 0.7558.

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On the four-hour chart, the price also turned up from the balance indicator line, which characterizes yesterday's decline as a correction within an upward trend. Marlin is turning upwards, we are waiting for the price to exit above the target level of 0.7452.

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

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