FX.co ★ Forecast for AUD/USD on April 7, 2021

Forecast for AUD/USD on April 7, 2021


The Reserve Bank of Australia, as expected, did not change its mood on monetary policy at yesterday's meeting, but made it clear that the rate would not be raised until 2024. Investors naturally did not take into account this news and, against the background of the general weakening of the US dollar, they bought the Australian currency. The price was in the range of 0.7665-0.7706. In it, it can stay for several days, as the Marlin oscillator also tries to enter the zone of positive values.

Forecast for AUD/USD on April 7, 2021

The signal line of the Marlin oscillator lies in a narrow consolidation n the H4 chart. The price itself has been showing growth all this time, so the pattern will likely continue - a slight increase in price in the specified range of 0.7665-0.7706 with the oscillator continuing to move sideways.

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Forecast for AUD/USD on April 7, 2021

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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