FX.co ★ Forecast for AUD/USD on March 8, 2022

The rebound in commodity markets led to the decrease of AUD/USD. The dip was as much as 128 pips, with the price stopping at the upper border of the range 0.7291-0.7315. The Marlin oscillator also showed a downward reversal in the daily chart.

A further decline below 0.7291 opens the opportunity to reach 0.7227.

In the four-hour chart, the Marlin oscillator is in the negative area, with sellers trying to push the quote below 0.7291-0.7315. The MACD line is also inside the range, so traders need to have more strength to overcome it. If they succeed, AUD/USD will leave 0.7291 and go to 0.7227.