FX.co ★ Forecast for AUD/USD on March 27, 2023

After the Australian dollar failed to break through the resistance at 0.6730 on March 22 and 23, it attacked the support at 0.6640 on Friday, March 24 . The Marlin oscillator has been in the downtrend area all this time. Now, after it breaks Friday's low, at 0.6628, it has a new bearish target at 0.6455 .

On the four-hour chart, the price is under the MACD indicator line, supported by the Marlin oscillator, which is falling in the "red".

The price needs to consolidate under 0.6640 and pass Friday's low at 0.6628 to develop the bearish movement according to the main scenario.

If the price settles above the MACD line (above 1.6670), the decline can be delayed for 1-2 days.