FX.co ★ Forecast for AUD/USD on February 24, 2023

The Australian dollar traded with a range of 30 pips yesterday, closing the day near the opening level. The currency pair is rising in today's Asian session, the Marlin oscillator is also turning up. The correction to the nearest resistance at 0.6873 (low of January 19) was probably outlined.

Once the correction ends, I expect the pair to move to 0.6730.

On the four-hour chart, the price converges with the oscillator, the signal line of which is about to move into positive territory.

The first resistance is the MACD line near 0.6848. Going beyond this level will allow the price to continue rising up to 0.6873. If the price overcomes yesterday's low at 0.6784, it will continue to decline to the support at 0.6730.