FX.co ★ Forecast for AUD/USD on April 7, 2022

Yesterday, the Australian dollar clearly indicated its own overbought condition. With the strengthening of the US dollar index by 0.15%, the decline of the euro by 0.07%, the aussie fell by 0.90% (69 points). This morning the price scraped the resistance of the target level of 0.7500. On the daily chart, the price divergence with the Marlin Oscillator has formed and confirmed, the price is moving towards the target range of 0.7415/30. Next, we are waiting for the price in the area of the previously determined magnetic point at the level of 0.7315.

The situation is completely falling on the H4 chart: the price has settled under the balance (red) and MACD (blue) indicator lines, the Marlin Oscillator is developing a downward movement in the negative area.