24.04.202404:45 Forex Analysis & Reviews: Forecast for AUD/USD on April 24, 2024

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AUD/USD

Under the influence of related markets, the Australian dollar has overcome the resistance of the target level at 0.6480. Most likely, today's session will close with a white candle, which will confirm the price's consolidation above the level it reaches. Next, we expect it to rise towards the daily MACD line at the level of 0.6553.

Only one factor may hinder the price from easily reaching the intended target - a delay in the signal line of the Marlin oscillator at the border of the bullish territory. If we see a reversal of the oscillator, it may not reach the MACD line. But for now, the situation is such that we may see a false breakout above the MACD line, as was the case in the first week of April or on March 21st (spike), and a false breakout of Marlin into positive territory.

On the 4-hour chart, the price has consolidated above the target level of 0.6480, and the Marlin oscillator continues to gradually rise in the uptrend territory. We expect the AUD/USD pair to rise in the short-term.

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