Forex Analysis & Reviews: Forecast for AUD/USD on March 10, 2021

AUD/USD
Yesterday, the Australian dollar gained 68 points. And although it did not try to break through the support level of 0.7615, it managed to work out the resistance of the MACD line on the daily time frame. This morning, the price is declining again, so we should still expect it to fall further towards the 0.7615 mark. Meanwhile, commodity markets have outlined a decline, which supports the currency pair. In this case, a prolonged decline can be expected tomorrow, when the ECB announces its monetary policy guidelines. The targets remains at 0.7565 and 0.7500.

The Marlin Oscillator slightly went above the neutral line in the four-hour chart, but it is going to return along it. Otherwise, the situation will remain unchanged, that is, moving downwards.

Analysis are provided by InstaForex