FX.co ★ Forecast for AUD/USD on March 29, 2021

AUD/USD

The Australian dollar gained 54 points last Friday, reaching a correction level of 0.7641 - the high on December 17, 2021. This morning, the price turns down from the level upon confirmation of the Marlin oscillator, which has also begun to turn down. Confirming the signal a little later on the lower (H4) timeframe will become a condition for the price to fall to the target levels of 0.7565 and 0.7500 (December 2017 low).

The Marlin oscillator has entered the growth zone on the four-hour chart and at the moment the price's intent has not been revealed - either it will turn to 0.7565, or it will try to overcome the resistance of the MACD line (0.7652) in order to shed the correction to a depth of 76.4% at the price of 0.7712 - to the lows on March 17 and 22. We are waiting for the situation to be clarified.