07.10.202405:55 Forex Analysis & Reviews: Forecast for AUD/USD on October 7, 2024

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On Friday, the price broke below the support level of 0.6827, and the daily Marlin oscillator consolidated in the downtrend territory. This allows the price to reach the MACD line in the coming days.

If this does not happen and the price climbs back above the 0.6827 level, the MACD line might remain untested, and a target of 0.6933 will open.

On the four-hour chart, the price consolidated below the 0.6827 level. Marlin is in the bearish zone but is turning upward. The probability of growth is 35%, but the dominant daily trend increases the likelihood of growth to 55%.

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