FX.co ★ Forecast for AUD/USD on April 18, 2024

AUD/USD

The Australian dollar has recovered its losses from Wednesday and it seems that it will continue to rise towards 0.6480. However, today's report showed Australian unemployment ticked up to 3.8% from 3.7% in February.

The Marlin oscillator has slowed down its upward movement on the daily chart. The price may not reach the target level of 0.6480.

On the 4-hour chart, the Marlin oscillator managed to enter the positive territory but it appears that it intends to return back below the zero line soon.

The target level of 0.6480, reinforced by the MACD indicator line, serves as the limit for the corrective rise. If the price consolidates below the support at 0.6410, the price could fall to 0.6273 - the low of October 26, 2023.