FX.co ★ Forecast for AUD/USD on May 27, 2021

AUD/USD

The Australian dollar was trading in the range of 66 points yesterday, closing the day down by 8 points, and its upper shadow of the daily candle did not reach, as we expected, the indicator line of the MACD. This is a reversal sign and at the moment the price is pushing through the balance line, shifting the market mood to sales.

But the price still remains in a one-and-a-half-month range, the lower limit of which is the 0.7690 level. When the price has settled under this level, it can brace for a medium-term decline along with the general market strengthening of the US dollar.

The price has settled under both indicator lines on the four-hour chart, the Marlin oscillator is in the zone of negative values, the general trend is decreasing. The price should get out of the downward range.