FX.co ★ Forecast for AUD/USD on February 22, 2024

AUD/USD

The Australian dollar closed Wednesday near the opening level. It is rising in today's Asian session. With the support of the Marlin oscillator, which is rising into positive territory, the aussie has a good chance of reaching the target level of 0.6627, which coincides with the MACD indicator line. The resistance is strong, and overcoming it opens up good prospects for medium-term growth with the nearest targets at 0.6693, 0.6780.

On the 4-hour chart, we can see that the price had no intention of breaking through the support of the MACD line (0.6532). The Marlin oscillator's signal line turned upwards from the border of the downtrend territory (green arrow). The pair is currently following an uptrend.

To disrupt the trend, the price would need to settle below the MACD indicator line (0.6532), which would also automatically return the Marlin oscillator's signal line to negative territory. Breaking the support at 0.6504 for the second time will open the target at 0.6410.