02.12.202404:58 Forex Analysis & Reviews: Forecast for AUD/USD on December 2, 2024

Relevance up to 21:00 2024-12-02 UTC--5

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The double convergence on the Australian dollar's daily chart failed to push the quote to the target level of 0.6570. The Marlin oscillator is already gearing up for a return to bearish territory.

A return of the price below 0.6482 opens the path to the target support at 0.6410.

On the four-hour chart, the price has moved back below the indicator balance line (red moving average).

The Marlin oscillator is on the zero line, showing little inclination to consolidate in bearish territory. Based on this indicator, the price is likely to linger around 0.6482, especially since the MACD indicator line reinforces this level.

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