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28.02.202405:26 Forex Analysis & Reviews: Forecast for AUD/USD on February 28, 2024

AUD/USD

AUD/USD fell for the past three days, but did not cross the balance line on the daily chart. Meanwhile, the Marlin oscillator lagged, but came close to the border of the downward trend. This indicates an upcoming breakdown in the pair.

Exchange Rates 28.02.2024 analysis

The breakdown will happen after the price drops below 0.6504 and heads towards 0.6410.

On the four-hour chart, the price once again crossed the support of the MACD line. The current candle must close below this for further market signal. As for the Marlin oscillator, it already arrived in the area of a downward trend.

Exchange Rates 28.02.2024 analysis

After the RBNZ kept the rate at 5.50%, AUD/USD dropped by 50 points. Cheaper oil, gas, copper, and gold also provoke a decline in the pair.

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2025
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