FX.co ★ Forecast for AUD/USD on May 26, 2021

AUD/USD

The Australian dollar ended yesterday at the opening price. The pair did not dare to attack the support of the balance indicator line, remaining in the 1.5-month range of 0.7690-0.7812. Ideally, this tactic is correct - until the market has formed an opinion about the strategic position of the US dollar (after all, it depends not only on interest rates) and uncertainty does not pass on the raw material market, then it is beneficial to be stable for the benefit of the national economy.

At the moment, the aussie's technical situation is not defined. The price externally tends to follow the MACD line, but the Marlin oscillator does not share this sentiment, which in case of growth can lead to a price reversal before reaching this line. The ongoing growth is taking place against the background of the growth of the New Zealand dollar, which received a portion of optimism after the RBNZ meeting.

The price is above both indicator lines on the four-hour chart, Marlin is growing. In general, this increases the likelihood of the price reaching the upper border of the trading range along the MACD line on a daily scale at 0.7812 to 70%.