FX.co ★ Forecast for AUD/USD on April 2, 2024

AUD/USD

Yesterday, the Australian dollar fell by 30 pips, almost reaching the target level of 0.6480. A consolidation below this mark will allow the price to drop towards 0.6410 and to 0.6273 (the October 2023 low).

Yesterday, the main thing that the price did was to move below the balance indicator line, which shifted speculative interest towards selling.

On the 4-hour chart, the bearish price reversal took place from the MACD line. The price has currently settled below the balance line. The Marlin oscillator is in downtrend territory. We are waiting for the price to consolidate below the level of 0.6480.