Forecast for AUD/USD on June 3, 2021

AUD/USD

The Australian dollar closed yesterday at the opening level, which looks weak with the release of data on GDP for the first quarter of 1.8% while expectations were at 1.5%. A decline is developing in today's Asian session. The Marlin Oscillator is turning down before the border of the growth area on the daily chart, which indicates that the price has been developing since May 21, mainly in the zone of the bears' interests. The target of the succeeding decline is 0.7641.

analytics60b8421c75b0b.jpg

The price is above the MACD indicator line and the Marlin oscillator is in the growth area on the four-hour scale, but the price trend and the oscillator is directed to return to the negative area, in which they were already in for a short time yesterday. Getting the price to settle under the MACD line (0.7737) will consolidate the downward short-term trend itself.

analytics60b8422716fe6.jpg

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

Pages