FX.co ★ Forecast for AUD/USD on April 4, 2023

Yesterday's surge in commodity prices made it possible for the Australian dollar to lead the day with gains by 1.53% (100 points). Investors were not even bothered by the fact that the Reserve Bank of Australia might not change the rate today, keeping it at the same 3.60%.

The price overcame the resistance level of 0.6730 and the balance indicator line on the daily chart and eventually headed to the next target level of 0.6873, which coincided with the MACD indicator line. The Marlin oscillator is in a position to rise in the positive area.

On the four-hour chart, the price has settled above the balance and MACD indicator lines, the Marlin is slightly correcting after the previous strong growth. We are waiting for the break to end and the price to further advance to the 0.6873 target.