FX.co ★ Forecast for AUD/USD on March 19, 2024

AUD/USD:

The Australian dollar is gradually moving towards the target support at 0.6480. The Marlin oscillator is already close to the downtrend territory. Crossing the signal line below the zero line will fuel the pair's decline.

Consolidation below 0.6480 opens the target at 0.6410. There are no signs of a reversal yet. Iron ore, base metals, and gas are slightly cheaper. On the 4-hour chart, the price is decreasing below the balance and MACD indicator lines. The MACD line has turned downwards, indicating the predominant direction of the medium-term trend.

The Marlin oscillator has slightly increased against the decline, suggesting a break before it falls further. We expect such a decline tomorrow, during the Federal Reserve meeting.