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24.12.202404:53 Forex Analysis & Reviews: AUD/USD Forecast for December 24, 2024

Relevance up to 21:00 UTC--5
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The Australian dollar was unable to break above the resistance level of 0.6273 after bouncing back from the lower boundary of the descending price channel. Currently, the price seems to be heading toward the critical point where the target level of 0.6171 meets the lower boundary of the price channel.

Exchange Rates 24.12.2024 analysis

Breaking below this level will enable the pair to continue its movement toward 0.6077. In the four-hour timeframe, the signal line of the Marlin oscillator has reversed from the neutral zero line twice.

Exchange Rates 24.12.2024 analysis

After reversing from the 0.6273 level, the price has not made any further attempts to return to that point. Indicator lines are steadily declining, and we anticipate the price will reach its first target at 0.6171.

Laurie Bailey
Analytical expert of InstaForex
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