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02.03.202104:58 Forex Analysis & Reviews: Forecast for AUD/USD on March 2, 2021

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AUD/USD

The Australian dollar closed the day by gaining 68 points yesterday, completing the correction in the target range of 0.7765/83. The signal line of the Marlin oscillator from below has retested the border of the growth area, now it turns to the downside. We are waiting for the price to reach the target range of 0.7625/41 (peak on December 17, 2020) by today or tomorrow. As the second attempt is being prepared, the MACD line, in all likelihood, will be overcome.

The price showed a way out of the target range to the downside on the four-hour chart, while the Marlin oscillator reverses following the price. Thanks to the past correction, the oscillator has removed the tension and is ready to go deeper into the oversold zone.

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