Forex Analysis & Reviews: Forecast for AUD/USD on March 17, 2021

AUD/USD
Yesterday, the Australian dollar consolidated under the blue MACD indicator trend line on the daily chart. This signals a change in the trend that reversed from the 0.8010 mark on February 25. At the same time, the Marlin Oscillator has entered the downward zone, thereby putting relevance to the target levels set at 0.7615, 0.7565 and 0.7500 on the specified chart.

The price in the H4 chart is still above the MACD line, but the Marlin oscillator shows that it is determined to break through this support immediately. During the past day, an attempt was made to break through the MACD line, but ended unsuccessfully. Today, there will be a stronger pressure from the outcome of the FOMC meeting. If the price moves below the MACD line (0.7717), the path will be opened towards the first target level of 0.7615.

Analysis are provided by InstaForex