FX.co ★ Forecast for AUD/USD on July 7, 2023

AUD/USD

Amid yesterday's wide-range trading, the Australian dollar consolidated below the 0.6644/55 range and tested the support of the MACD line. At the moment, the price is between the MACD line (0.6607) and the resistance range of 0.6644/55. The Marlin oscillator is declining in negative territory.

On the four-hour chart, the price settled below all technical lines - both indicator and price levels. Marlin is also declining in negative territory.

Overcoming the MACD line on the daily chart (0.6607) will open the nearest target of 0.6567 (March 10 low), falling below the line will open the second target - the 0.6510/23 range.