FX.co ★ Forecast for AUD/USD on March 21, 2024

AUD/USD

Against the neutral backdrop of yesterday's FOMC meeting, the Australian dollar has been firmly rising both yesterday and this morning. Even the resistances of the MACD line and the target level of 0.6627 do not seem like significant obstacles in the way of moving towards the target of 0.6693.

From a technical perspective, the level of 0.6670 poses a greater threat for the bulls as they make their way to 0.6693. But in order to grow more confident, the price must overcome the key level of 0.6627.

On the 4-hour chart, the price has settled above the balance and MACD indicator lines, while the Marlin oscillator sharply rises in the positive area, providing prerequisites for the price to break above the resistance at 0.6627. The level of 0.6670, despite its intermediate status, is important.