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02.12.202404:58 Forex Analysis & Reviews: Forecast for AUD/USD on December 2, 2024

The double convergence on the Australian dollar's daily chart failed to push the quote to the target level of 0.6570. The Marlin oscillator is already gearing up for a return to bearish territory.

Exchange Rates 02.12.2024 analysis

A return of the price below 0.6482 opens the path to the target support at 0.6410.

On the four-hour chart, the price has moved back below the indicator balance line (red moving average).

Exchange Rates 02.12.2024 analysis

The Marlin oscillator is on the zero line, showing little inclination to consolidate in bearish territory. Based on this indicator, the price is likely to linger around 0.6482, especially since the MACD indicator line reinforces this level.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
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