21.03.2023 04:58 AM
Forecast or AUD/USD on March 21, 2023

The Australian dollar found the resistance level of 0.6730 very strong - yesterday, a doji candle was formed, and in today's Asian session, it is gradually falling.

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The signal line of the Marlin oscillator, according to our main scenario, turns down from the zero line. There is no rush to break through 0.6640, so we expect a breakthrough after the Federal Reserve announces its rate decision tomorrow. Yesterday, Fed Chairman Jerome Powell, speaking to the National Association for Business Economics, called the 0.50% increase quite realistic.

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On the four-hour chart, the signal line of the Marlin oscillator has converged into a wedge-shaped structure; there is a high probability that it will go down. As a result, the price will aggressively attack the support level of 0.6640, near which the MACD line is also located and strengthen it.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2023
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