FX.co ★ Forecast for AUD/USD on June 8, 2020

AUD/USD

The Australian dollar has been moving sideways at a target level of 0.6975 since Friday last week. The sideways movement enhanced the technical divergence on the Marlin oscillator. The price is likely to reach the first support level of 0.6830.

The Marlin divergence has also developed on the four-hour chart. The signal line of the oscillator is testing the border of the downward trend area. If the price consolidates below 0.6830, it will also go under the MACD indicator line. Consequently, the fall will likely continue towards the lower target of 0.6680.