Forecast for AUD/USD on September 26, 2023

AUD/USD

The Australian dollar, judging by the sideways movement of the Marlin oscillator on the daily chart, is waiting for a resolution regarding the U.S. budget in Congress. If the budget for 2024 is not passed, which is highly likely, then we expect the pair to rise in the 0.6775-0.6815 range.

The AUD/USD pair itself is developing within the 0.6388-0.6514 range. On the 4-hour chart, the aussie's plan for growth is supported by the price returning above the MACD indicator line. Marlin is attacking the boundary of the bullish territory.

The current growth is expected to be short-term. A signal for medium-term growth will be the price overcoming the MACD line, coinciding with the target resistance at 0.6514 (the high on September 20th).).

The material has been provided by InstaForex Company - www.instaforex.com

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