FX.co ★ Forecast for AUD/USD on June 23, 2023

AUD/USD

On the third attempt, the Australian dollar broke below the support level of 0.6755. This opened up the 0.6704/12 target, based on multiple record extremes, the closest of which were between May 12th and 16th. Consolidation below this range will open the next target at 0.6644/54.

On the daily chart, the Marlin oscillator is approaching bearish territory, so a reversal of the oscillator and a correction is possible as it approaches the nearest target range.

On the 4-hour chart, the signal line of the Marlin oscillator has accelerated downward. If the price can easily break the target support, then the price can quickly reach the next target at 0.6644/54.