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02.05.202205:28 Forex Analysis & Reviews: Forecast for AUD/USD on May 2, 2022

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This morning the Australian dollar surpassed the target level of 0.7056, which paves the way to the bears' target range at 0.6930/60. Tomorrow the Reserve Bank of Australia raises the rate from 0.10% to 0.25%, but investors are not optimistic about this event - Australian economists predict a fall in housing prices and a decline in the construction index. On the technical side, there is nothing to add to this, we are waiting for the price in the specified target range.

On a four-hour timeframe, the Marlin Oscillator returned to the downward trend area after a short stay in the positive area. The trend on H4 is completely downwards. We are following tomorrow's reaction to the RBA meeting. Even if there is an increase, it will be a convenient moment to open new short positions, because there will already be a Federal Reserve rate hike on Wednesday.

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