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31.03.202105:45 Forex Analysis & Reviews: Forecast for AUD/USD on March 31, 2021

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AUD/USD

Yesterday, the Australian dollar broke through the signal level of 0.7641 with its upper shadow and closed the day with a decline of 37 points. The Marlin oscillator has been repeating its price movements for the last five days, unfortunately losing its leading main function. Nevertheless, it still has a large margin to decline before entering the oversold zone. We have a downward trend on the daily chart and the targets are set at 0.7565 and 0.7500.

The price consolidated under the indicator's red balance line and the MACD line in the H4 chart. The Marlin Oscillator is at its zero neutral line and is ready to fall again. In this case, the first target level of 0.7565 is expected to be broken through, with 60% probability.

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