Forex Analysis & Reviews: Forecast for AUD/USD on March 16, 2021

AUD/USD
On the daily chart, the Australian dollar is trying to gain a foothold under the MACD indicator line. But for a complete consolidation, it is necessary for today to close with a black candle. The Marlin Oscillator has entered negative territory.

It looks like the Australian dollar, along with the European currencies, is waiting for tomorrow's Fed meeting. But it may still slowly decline because oil, gold, metals, and a number of agricultural commodities are getting cheaper yesterday and this morning.

On the four-hour chart, the price is still above the MACD line. A decline in the price below 0.7724 will be a signal to open short positions. Marlin is already in the negative zone.

Analysis are provided by InstaForex