Forecast for AUD/USD on June 7, 2021

AUD/USD

The Australian dollar gained 77 points on Friday and stopped at the resistance of the balance indicator line on the daily chart. The formal and predominant scenario is currently decreasing, since the price is below the indicator lines and the Marlin oscillator is in the downward trend area. But the likelihood of another test of the MACD line in the area of 0.7795 is also not excluded. Overcoming the MACD line will entail continued growth to the target level of 0.7880.

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There is a tendency to rise on the H4 chart - the price is above the MACD line and Marlin is in the zone of positive values. But as it did more than once during the second half of May, the current price exit above the MACD line may turn out to be false and the price will go down again. We are currently waiting for developments.

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

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