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06.05.202105:33 Forex Analysis & Reviews: Forecast for AUD/USD on May 6, 2021

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AUD/USD

The Aussie took advantage of the neutral market ahead of Friday's US employment report and gained 42 points yesterday, with moderate support from iron ore gains. The technical factor also played a role - a rebound of the signal line of the Marlin oscillator from the zero line (arrow on the chart).

The nearest level (0.7767) for the neutral market seems to be strong, it is advisable to surpass it for a significant goal, for example, to move to 0.7820. The aussie hardly has such a goal on the eve of the most important US report.

On the four-hour chart, the 0.7767 level (high on April 22) corresponds to the MACD line, which provides additional resistance to the price. Most likely, the Australian dollar will spend this day in a flat.

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