FX.co ★ Forecast for AUD/USD on May 4, 2021

AUD/USD

The Australian dollar has been showing increased volatility in recent days. Yesterday, on the temporary weakening of the US dollar, the aussie reached the upper shadow of the opening on Friday, the 0.7767 target level. This morning the price reverses from this level to the downside. The target for the decline at 0.7641 is the high on December 17, 2020.

The price has worked out the resistance of the balance indicator line on the four-hour chart. The Marlin oscillator briefly left the negative zone, and now it is back in it. This action created a false exit of the signal line into the growth area, after which, in most cases, a deeper fall occurs. We are waiting for the price to reach the designated target at 0.7641.