Forecast for AUD/USD on March 4, 2021


The Australian dollar lost 44 points yesterday, blocking the previous day's gains. It stopped at the target support (0.7765). The price tried to surpass it this morning. Taking into account the current strengthening of the US dollar throughout the market, the price will likely overcome support and will even try to attack the MACD line at 0.7715. But, most likely, this will happen tomorrow, which is when the US employment data comes out. The next target will be the 0.7615 level. we are also waiting for the Marlin oscillator's movement to the zone of negative values.


The price still froze at the 0.7765 level on the four-hour chart, while Marlin is not very confident in entering the bears' territory. We are waiting for the price to drop below 0.7715, then things will be more fun for the aussie.


The material has been provided by InstaForex Company -