Forecast for AUD/USD on November 16, 2021

The Australian dollar rose 14 points yesterday against a 0.42% gain in the US dollar index. At the same time, the price continues to grow this morning, it has gone above the balance indicator line. The Marlin Oscillator is not yet in force, but it seeks to quickly enter the positive area. All these signs together create conditions for further price movement upward to the target level of 0.7414 - to the high of August 2020. Consolidation above the level opens the way to the 0.7566 target .

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On the four-hour chart, the price has settled above the balance and MACD indicator lines, the Malin Oscillator is growing in the positive area. We are waiting for further price growth.

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

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