FX.co ★ Forecast for AUD/USD on May 9, 2022

This morning the aussie broke through the target level of 0.7056 on a run and rushed to the target range of 0.6930/60. A reversal to a correction is possible from this range, as the Marlin Oscillator is already preparing for convergence with the price on a daily scale. If there is no convergence, then the price will extend the decline to the lower border of the price channel, to the area of the target level of 0.6865 (May 2019 low).

On a four-hour scale, the price settled below the balance and MACD lines, the Marlin Oscillator is falling in the negative area without signs of a reversal. We follow the development of a downward trend.