03.07.202405:39 Forex Analysis & Reviews: Forecast for AUD/USD on July 3, 2024

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AUD/USD

Yesterday, the Australian dollar, like other counter-dollar currencies, closed the day higher. However, unlike its usual behavior, it did not lead the market, as it preferred to stay within the range of 0.6627/90.

The signal line of the Marlin oscillator is still moving sideways but is already showing progress in the positive area. The pressure within the range is increasing, and the price is expected to surge on Friday. Currently, there's a 55% probability of such a surge, with 0.6780 as the target.

On the 4-hour chart, the price has already settled above the MACD indicator line, and the Marlin oscillator has moved into the uptrend territory. We don't expect the Australian dollar to quickly move out of its own comfort zone.

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