21.03.202304:58 Forex Analysis & Reviews: Forecast or AUD/USD on March 21, 2023

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

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.

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.

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.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.