Forecast for AUD/USD on June 4, 2021

AUD/USD

Yesterday's decisive fall in the Australian dollar finally pushed the currency out of a comfortable accumulation range between two indicator lines on a daily chart that has been running since mid-April. The price slightly fell short of the 0.7641 target level, but it is still ahead. The US labor report for May will be published today, the forecast for which is very optimistic: a decrease in unemployment from 6.1% to 5.9%, Non-Farm Employment Change 670,000. When the price surpasses 0.7641, the target will be 0.7565, and even below 0.7485.

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The price is settling above the target level of 0.7641 on the four-hour timeline. Until the release of US reports, we do not expect a breakthrough of this line, since the Marlin oscillator slightly turned up.

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

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