02.10.2023 06:26 AM
Forecast for AUD/USD on October 2, 2023


On Friday, the Australian dollar failed to break above the MACD line, and so far, the price has been supported from below by the balance indicator line. The Marlin oscillator is in bullish territory.

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The advantage is with the uptrend, and the price may try to overcome the resistance at 0.6514 once again. If it succeeds, the price could further rise towards 0.6612. On the 4-hour chart, the price is above both indicator lines, and the Marlin oscillator is in the bullish territory.

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An uptrend, but the price may retreat to the MACD line (0.6408), and the Marlin oscillator may touch the zero line before both the price and the oscillator synchronously turn upwards. In general, the Australian dollar is trading in the range of 0.6388-0.6514.

Laurie Bailey,
Analytical expert of InstaForex
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