FX.co ★ Forecast for AUD/USD on May 26, 2022

Yesterday, the Australian dollar made the first attempt to overcome the target level of 0.7056. The level was pierced by the lower shadow of the daily candle and this encouraged the aussie today - the quote is again approaching this support. The Marlin Oscillator is moving horizontally, but at least not rising, which is already good for the main downward scenario. The bears' first target is the 0.6930/60 range.

On the four-hour chart, the Marlin Oscillator looks settled in the negative area. The price is likely gathering strength to break through the 0.7037 (yesterday low)/56 range. This range includes the MACD line, it receives reinforcements, so the aussie still needs to accumulate short positions.