Forecast for AUD/USD on August 6, 2021

AUD/USD

The Australian dollar rose 22 points yesterday and almost back to Thursday's opening this morning. The Marlin Oscillator turns down in the rising territory and the price development itself occurs under the balance and MACD indicator lines.

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Today, data on employment in the US is published - the median forecast is 830,000. This is a strong figure, but the nervousness of expectations is such that the release of data below this value could lead to a wide attack on the US dollar. In this scenario, the Australian dollar may work out the target of 0.7474. Really strong Non-farm will lead to the aussie's fall to 0.7333, then to the lower border of the price channel at 0.7368.

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The price is falling on the four-hour chart, being above the MACD indicator line. The Marlin Oscillator has already entered the negative zone. These technical factors may be enough until the support of the MACD line at 0.7365 has been worked out before a possible rise. If there is still no growth due to strong non-farms, then the price will continue to decline further towards the specified targets.

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

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