FX.co ★ Forecast for AUD/USD on November 24, 2023

AUD/USD:

The Australian dollar continues to rise towards the target level of 0.6612. The Marlin oscillator is moving sideways but, overall, it does not contradict the bullish bias. The MACD line has turned upward, signaling the start of a medium-term upward movement.

On the 4-hour chart, the price is rising above the balance and MACD indicator lines, with the balance line serving as a good support (arrow).

The Marlin oscillator is moving sideways below the zero line; it is likely waiting for a more stable rise to provide a precise signal for growth. We are waiting for such a signal. If the price drops below the MACD line (0.6537), this may delay the start of the upward movement for a short period (1-2 days).