Forex Analysis & Reviews: Forecast for AUD/USD on February 14, 2022

The Australian dollar fell by 30 points on Friday. As a result, we got the following technical picture: the signal line of the Marlin Oscillator made a false exit above the zero line (this moment is marked with a tick), thus forming the upper limit of its own descending channel. This channel has a middle line, which corresponds to the target level of 0.7065. We believe that the price will hesitate a bit at this level, but then it will continue to decline towards the target of 0.6950, which (in visual estimation) will correspond to the lower border of the oscillator's descending channel.

On the four-hour chart, the Marlin Oscillator also made a false exit above the zero line (tick), and the price is now attacking the support of the MACD line (0.7115). Now the aussie's closest target is the level of 0.7065.

Analysis are provided by InstaForex