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FX.co ★ Forecast for AUD/USD on April 8, 2021

Forecast for AUD/USD on April 8, 2021

AUD/USD

Yesterday, the Australian dollar only went above the target level of 0.7665 just by the upper shadow of the daily candle, and it formed a black candle of 48 points at the end of the day. The Marlin oscillator turned down before reaching the border of the growth area. And since yesterday's candlestick blocked two previous white candles at once, it only fuels the downward direction. It is aiming for 0.7500 - the December 2017 low.

Forecast for AUD/USD on April 8, 2021

The price has settled below the MACD line on the four-hour chart. The Marlin oscillator came out of its own consolidation down into the negative area. We expect the Australian dollar to weaken further.

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Forecast for AUD/USD on April 8, 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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