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

After reaching the 0.7285 target level last Friday, the price turned down and went under the MACD indicator line. Accordingly, the price's previous exit above this line was false, and now it is a sign of further medium-term decline. The nearest task is to overcome the first support at 1.7136, which will be a good condition for reaching 0.7037. The Marlin Oscillator is still in the growth zone, but it is clearly declining, it has a long way to go to reach the oversold area.

On the four-hour chart, the price settled below the balance and MACD indicator lines, the Marlin Oscillator is falling in the bears' territory. We follow the development of a downward trend.