FX.co ★ Forecast for AUD/USD on May 19, 2021

AUD/USD

Yesterday, the Australian dollar worked out the resistance of the MACD line and, along with other counterdollar currencies that reached their technical resistance, turned down. The Marlin oscillator is also turning down. It is possible that the price reversed to the target of 0.7641 - the high of December 17, 2020, although we need to wait for confirming signals.

The closest signal will be when the price settles below the MACD line at the four-hour scale (0.7775). At the same time, we are waiting for the Marlin oscillator to transition to the negative region. There are two intermediate levels: 0.7735 and 0.7690, just ahead of 0.7641, from which small corrections are possible.