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05.04.202105:44 Forex Analysis & Reviews: Forecast for AUD/USD on April 5, 2021

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AUD/USD

The Australian dollar, after a lower spike on last Thursday's daily chart, has returned to its consolidation range, capped at the top of the March 30 high at 0.7665. The price convergence with the Marlin oscillator is weak, its potential may not be enough to test 0.7665. As a result, we are waiting for technical conditions to form and signs for the price to return to the downward trend, which began with a strong fall on February 25-26. Targets: 0.7500 and 0.7375.

On this morning's four-hour chart, the price rose above the MACD line, but this movement is nothing more than a fluctuation, because the Australia, New Zealand and China markets are closed today. We are waiting for the price to settle below this MACD line and the subsequent decline to the first target of 0.7500.

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