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Tuesday, April 23, 2024

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.

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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 positive 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.

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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.

The material has been provided by InstaForex Company - www.instaforex.com #

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