FX.co ★ Forecast for AUD/USD on May 18, 2021

AUD/USD

The Australian dollar has enthusiastically picked up the dollar's weakening (-0.09% on Monday) and this morning, it crossed the target level of 0.7783 with the intention to test the strength of the MACD line and a number of record highs (in particular on January 6) at 0.7821. Consolidating above the level will make it possible for the price to reach the second target of 0.7880.

The price has settled above the MACD line on the four-hour chart, while the Marlin oscillator is growing vigorously in the zone of positive values. We are waiting for an attack on the first resistance 0.7821.