FX.co ★ Forecast for AUD/USD on May 11, 2021

AUD/USD

Yesterday, the Australian dollar made a desperate attempt to rise above the target level of 0.7880. The first attempt failed, but the pullback was held by the MACD indicator line on the daily chart. The price is rising again in today's Asian session, the level of 0.7880 is under attack and will be taken, unless the double reversal of the signal line of the Marlin oscillator from its own level of 0.0127 turns out to be stronger. In this case, the target will be 0.7938.

On a four-hour timescale, the price is in a rising position for all indicators. The probability of rising above 0.7880 is around 70%. The remaining 30% corresponds to price consolidation below 0.7819 and a subsequent decline to 0.7767.