FX.co ★ Forecast for AUD/USD on May 17, 2022

Yesterday the aussie made a significant effort to get out of the 0.6930/60 range and these efforts have reached the goal. Now the price is settling over the upper border of the range and is preparing to continue moving to the target level of 0.7056. The optimism is due to the fact that the signal line of the Marlin Oscillator has come out of the pressure of the downward trend line. Visually, when the price reaches the target level of 0.7056, the signal line of the oscillator will reach the border of the growth area. Synchronicity of moments will serve as a turning point for the aussie.

On the four-hour chart, the price has settled above the balance line and the MACD line, Marlin is growing in the positive area. We are waiting for further short-term price growth.