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27.03.202406:03 Forex Analysis & Reviews: Forecast for AUD/USD on March 27, 2024

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AUD/USD

In today's Pacific session, the Australian dollar's quote is returning below the balance indicator line on the daily chart. Although yesterday's candle was black, it closed above the balance line.

It appears that the price consolidation turned out to be a false move and, as a result, we can expect downward movement in the medium-term, at least towards the target level of 0.6410. The signal line of the Marlin oscillator has dropped from the zero line. The pair is mainly following a downtrend.

On the 4-hour chart, the price has settled below the balance line, and the Marlin oscillator has entered the downtrend territory. Visually, the decline is gaining momentum. Declines seen in commodity markets both yesterday and this morning are mounting pressure on the Australian currency.

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