FX.co ★ Forecast for AUD/USD on November 5, 2021

The Australian dollar continues its planned decline to the target support of 0.7320 - to the MACD line on the daily chart. The price left the 0.7414/45 range and there are no obstacles on its way to the target. The Marlin Oscillator continues to decline in the downtrend zone.

On the four-hour time scale, the price consolidated below the support range of 0.7414/45, which has now become resistance.

It is noteworthy that before leaving it down, the price made a false upward exit (it is marked with a gray oval), this is a sign of a subsequent deeper and more prolonged fall. While we are waiting for the price on the daily MACD line in the area of 0.7320.