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04.06.202004:44 Forex Analysis & Reviews: Forecast for AUD/USD on June 4, 2020

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AUD/USD

The Australian dollar fulfilled one of our goals on Wednesday, defined by record levels - 0.6975. At the moment, the price is under the 0.6917 level, fixing it will extend the decline to the target level of 0.6830. It is very possible that the aussie will sharply fall, up to its reversal into a medium-term decline, since the Marlin oscillator forms a double divergence on the daily chart.

The Marlin oscillator is declining quite quickly on the H4 scope, and you can feel its desire to quickly move into the negative trend zone in order to give the price a new downward momentum. This transition of the indicator can take place approximately if the price falls below the target level of 0.6830. We are waiting for developments.

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