FORECAST FOR AUD/USD ON MARCH 17, 2023

Yesterday, the Australian dollar decided to take advantage of the wave of optimism in European markets and rose by 40 points. In today's Asian session, it is gaining the same amount.

AUD might reach the target level of 0.6730, and on the daily chart, the signal line of the Marlin oscillator will reach its zero line by that time. After that a synchronous reversal of the price and the oscillator from their resistances may follow.

On the four-hour chart, the price is rising after initial consolidation above the indicator lines and resistance level of 0.6640. If the price changes its mind to rise further, falling below the support of 0.6640 and under the MACD line (0.6630) will be a confirmation of it.

Analysis are provided by InstaForex

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