Forecast for AUD/USD on December 16, 2021

The Australian dollar gained 65 points against the background of yesterday's drop in the US dollar by 0.22%. Once again, it slowed down at the resistance of 0.7171. Unlike the state of December 8-13, when the price could not overcome this level for four days, now the Marlin Oscillator has moved into a positive area, which helps the price to develop its success. The nearest target is 0.7227.

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But there is no exit above 1.7171 yet, Marlin can still turn down from its zero line, the price will go to the target level of 0.7065.

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The situation is ascending on the four-hour chart. The Marlin Oscillator has moved into the growth zone. For the disclosure of an alternative declining scenario, the price must overcome the MACD line, in the area of 0.7120.

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

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