FX.co ★ Forecast for AUD/USD on May 10, 2021

AUD/USD

Last Friday, the Australian dollar crossed the target level of 0.7850 (high on March 18), and this morning it is returning below it. If the price moves below 0.7819 (peak on April 29), which will simultaneously turn into a decline below the MACD indicator line, then the next target will open at 0.7767.

The signal line of the Marlin oscillator did not overcome the April 26 level (0.0127), and is currently turning away from it. This could be a sign of a hidden (weak) divergence. Price taking below 0.7767 visually coincides with the moment when Marlin transitions into the negative area. If this happens, the aussie will return to the mid-term decline.

Marlin is turning down on the H4 chart. Formally, the price only covered the gap from the market opening. We are waiting for the development of the situation.