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22.09.2023 06:03 AM
Forecast for AUD/USD on September 22, 2023

AUD/USD:

Yesterday, the Australian dollar edged down amid a broad weakness of counter-currencies. The lower shadow of the daily candlestick tested the target support at 0.6388. The Marlin oscillator remained in positive territory, indicating an uptrend.

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Now, we can expect the currency to rise towards the target level of 0.6490. If the price stays below 0.6388, it could open the way to the target at 0.6295. On the 4-hour chart, the price is trying to rise above the balance and MACD indicator lines, but it won't be easy, as the Marlin is in negative territory.

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The first and closest sign that AUD/USD is ready to rise further would be when the price settles above the MACD line and the nearest peak at 0.6432.

Laurie Bailey,
Analytical expert of InstaForex
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