Forecast for AUD/USD on December 1, 2021

Yesterday, the Australian dollar showed a nice technical picture on the daily and 4-hour charts. On a daily basis, this is an accurate hit of the target levels 0.7171 and 0.7065 with a total range of 106 points. Now the daily Marlin Oscillator is forming an upward reversal. Formally, the price should be expected at 0.7171 (September 29 low) with an attempt to overcome it and move further to 0.7227.

On the four-hour chart, the price converged with the Marlin Oscillator. Marlin is currently advancing in the positive area. The MACD line passes below the target level of 0.7171, respectively, a price exit above the level will mean an exit above this indicator line. The target 0.7227 will become open.

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

from RobotFX