Forecast for AUD/USD on October 6, 2021

AUD/USD

Aussie is struggling to move up to the target range of 0.7340/90 defined by the July-August consolidation. Yesterday, the aussie has grown by 10 points. The Marlin Oscillator failed to overcome the border with the growth area on the first attempt. However, the price did not go above the balance indicator line as well. To do this, the Australian currency needs external support, which may increase these days - oil and iron ore are becoming more expensive, the dynamics of the non-ferrous metals market is mixed.

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The price is moving up above both indicator lines on the four-hour chart, the Marlin Oscillator is declining in the positive area. In general, the dynamics are upward.

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

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