FX.co ★ Forecast for AUD/USD on May 3, 2021

AUD/USD

Last Friday, the Australian dollar was more resilient than the European currencies under the dollar's onslaught and lost 50 points that day. The price is currently above the balance indicator line while the Marlin Oscillator is still in the zone of positive values on the daily chart. This factor helps the aussie in resisting the US dollar today. But the market has already chosen a direction - to the nearest target of 0.7641, then to 0.7565 - to the February low.

The price is below the balance line, the MACD line is turning down, and the Marlin oscillator is in the downward trend zone on the four-hour chart. The gap from the opening of the new week is also clearly visible. This is another factor for a succeeding downward movement.