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26.02.202405:01 Forex Analysis & Reviews: Forecast for AUD/USD on February 26, 2024

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AUD/USD

A reversal started in AUD/USD after the test of the balance indicator line on the daily chart. The Marlin oscillator moving towards the positive area also reflects this scenario. Most likely, the pair will decline when the price drops below the support level of 0.6504 and head towards 0.6410.

On the four-hour chart, the fall below the MACD line and 0.6542 indicates an impending downward movement. The Marlin oscillator also turned downward.

Today, data on new home sales in the US will be released, with an expected growth of 2.41%. If the data turns out to be weaker than expected, stock indices will decline and, along with them, AUD/USD.

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