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05.05.202105:28 Forex Analysis & Reviews: Forecast for AUD/USD on May 5, 2021

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AUD/USD

Yesterday, the Australian dollar fell by 82 points. This morning the price sharply rebounded. The signal line of the Marlin oscillator slightly turns upward from the zero line on the daily chart. After the rebound, we are waiting for the bears to attack with the 0.7641 target.

The convergence of the price and the oscillator looks weak on the four-hour chart, we do not expect any noticeable sharp growth, it is unlikely for the price to reach the 0.7767 level, because the price "escaped" from it yesterday. Falling below Friday's low of 0.7697 will be a signal that it will move to the target level 0.7641.

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