FX.co ★ Forecast for AUD/USD on March 2, 2023

The Australian dollar gained 32 pips yesterday and closed the day with a white candlestick and settled above support at 0.6730. The Marlin oscillator behaves with restraint. This morning, there was already an attempt to attack this support.

The attempts will probably be repeated, since the situation on the smaller chart is consistent with such a plan. A success will allow the price to establish itself in the starting positions for a breakout to the next support at 0.6640.

In case it crosses yesterday's high (0.6786), the aussie will try to take a high target level at 0.6873 (January 19 low).

On the four-hour chart, yesterday's rise was stopped by the resistance of the balance and MACD lines. The Marlin oscillator is in the positive area, but since it belongs to the leading oscillators, it can fall and return to the negative area. The signal is when the price settles below the 0.6730 level.