FX.co ★ Forecast for AUD/USD on August 31, 2022

The aussie made a quick rally towards the 0.6950 target yesterday, worked it off and collapsed as sharply as it had risen. As a result of the day, the aussie lost 46 points. Additional pressure on the AUD/USD was exerted by the commodity market - oil fell by 4.82%, iron ore by 3.82%.

The Marlin Oscillator is in a stable downward position on the daily. Now the price is trying to consolidate under the target level of 0.6870. The 0.6755 target is actually open.

The price has already settled below the level of 0.6870 on the four-hour chart. It has been under both indicator lines. The Marlin Oscillator is developing a decline in negative territory. We are waiting for further weakening of the Australian dollar.