Forecast for AUD/USD on May 24, 2019

AUD/USD

On Thursday, the Australian dollar rose by 17 points after the US dollar weakened, but finding the resistance of the MACD line on the four-hour chart turned down this morning. On H4, a convergence with the Marlin oscillator was formed, but the structure of the signal line itself is enclosed in a wedge,and the downward exit of the line from the wedge will logically continue to decline. Visually, the expected output of the Marlin signal line will coincide with the price going below the signal level of 0.6866, which is the low on May 23 and 17. In this case, we expect a decline to the embedded line of the price channel at around 0.6834. Leaving prices below the line opens up the prospect of moving to the underlying line at 0.6750.

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