FX.co ★ Forecast for AUD/USD on May 20, 2021

AUD/USD

Yesterday, the Australian dollar fell to the area where it closed on May 12, when it plunged 112 points amid falling commodity markets. Ideologically, the aussie has completed the correction from that fall and is ready to decline further. The price surpassed the intermediate level of 0.7735, the Marlin oscillator penetrated into negative territory. Further on the path of the AUD/USD pair is the second intermediate level of 0.7690, below it is the first target level of 0.7641. The second target is 0.7565.

The price settled under both indicator lines on the four-hour chart: the balance line and the MACD line. The Marlin oscillator has settled in the negative area. We look forward to the aussie's succeeding decline.