FX.co ★ Forecast for AUD/USD on August 29, 2023

AUD/USD

Today, the Australian dollar is rising for the second day. The 0.6388 support level proved overwhelming for the bears to overcome, and on the daily chart, the Marlin oscillator rose a day earlier. Now the price will try to reach the nearest target level of 0.6493. Consolidating above this level will pave the way for the price to reach the second target at 0.6570, which the MACD line is approaching.

On the four-hour chart, the price is breaking above the balance indicator line. The Marlin oscillator, after a brief consolidation below the zero line, has moved above it. We see an uptrend in the short-term period.

Despite the union strikes at Chevron LNG facilities, workers at facilities will start rolling stoppages from September 7, the S&P/ASX200 stock index is rising by 0.44%. Market players definitely have a risk appetite.