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14.05.202106:01 Forex Analysis & Reviews: Forecast for AUD/USD on May 14, 2021

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AUD/USD

The Australian dollar traded in a 57-point range on Thursday trying to break the support of the balance indicator line on the daily chart. The attempt failed, but the Marlin oscillator was stuck in the negative zone. Now it will be easier for the price to move down. The MACD indicator line, being an indicator of the trend's direction, turns down. The first target at 0.7641 is the December 17, 2020 high. It is followed by the 0.7565 target level, the lows of February 2 and March 25, 2021.

On the four-hour chart, the price slightly lingered in the trading range of the first week of May. After surpassing yesterday's low of 0.7690, the price will leave this range and go down.

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