FX.co ★ Forecast for AUD/USD on June 10, 2020

AUD/USD

The Australian dollar lost 58 points yesterday, marking the support of 0.6900 as the day's low (September 12, 2019 high). It is likely that the price will consolidate in a fairly wide range of 0.6900-0.7080, where the upper limit is in the peak area of July 19, 2019), in which even today's Federal Reserve meeting can survive. The signal line of the Marlin oscillator is moving down, which implied that the Australian currency's growth potential is weakening.

The price is above the balance and MACD indicator lines on the four-hour chart, but Marlin has not yet left the negative zone, which will also have a technical slowing effect in case of price growth.

If the price manages to consolidate below the lower border of the range of 0.6900, which will automatically mean consolidation below the MACD line, the 0.6680 target (highs on May 26 and 27) will become relevant.