FX.co ★ Forecast for AUD/USD on May 31, 2021

AUD/USD

The Australian dollar fell by 70 points on Friday at the moment, breaking the balance indicator line on the daily scale and puncturing the signal level of 0.7690. This is the first sign that the price will reach the target level of 0.7641 (high on December 17, 2020). Today opened under the balance line, which has not been the case since April 23, a sign of the continued development of the downward movement.

The price has moved down from the indicator lines of the balance and the MACD on the chart of the four-hour scale, the Marlin oscillator also develops a decline, albeit uneven, in the negative area. We are waiting for the price to consolidate under the signal level of 0.7690 and move towards 0.7641.