FX.co ★ Forecast for AUD/USD on May 24, 2021

AUD/USD

Last Friday, the Australian dollar lost 35 points, touching the balance indicator line with the day's low. This indicator line has been an insurmountable support for the price on the daily chart for five weeks now. We can assume that the price drift under it will significantly change the current market situation for the aussie, it is possible to count on a three-figure decline in the price, which is generally close to the September 2020 high (0.7415).

The price has settled below both indicator lines on the four-hour chart, while the Marlin oscillator has infiltrated the downward trend zone. We are waiting for the price to cross the signal level of 0.7690 and then decline to 0.7565 with the intermediate level of 0.7641.