13.05.202105:26 Forex Analysis & Reviews: Forecast for AUD/USD on May 13, 2021

AUD/USD

Yesterday, as it fell for a day (116 points), the Australian dollar overlapped the previous four-day growth. Oil and non-ferrous metals fell in price. The decline can be considered qualitative, corresponding to foreign markets. And as we mentioned yesterday, the price fall below the MACD indicator line, below the level of 0.7819, determines the previous exit over this line on the 7-11th as false, which now becomes a signal for a subsequent medium-term fall. Targets for the decline are: 0.7641, 0.7565, 0.7500.

But at the moment the Marlin oscillator is showing a small rebound from the neutral line (0.00), just as the price itself is growing from the red balance indicator line. The aussie will probably spend the entire day in correction. The 0.7767 level is the resistance.

The price is below the balance line on the four-hour chart - the balance has shifted towards short positions. As part of these sales, the price is able to settle at the level of 0.7767. The MACD line (0.7790) hinders further growth. It is unlikely that the price will have a desire to attack it, rather, the correction will take the form of a consolidation, that is, it will stretch a bit in time. We are waiting for the price at the 0.7641 level - at the high of December 17, 2020.