01.06.2023 05:47 AM
Forecast for AUD/USD on June 1, 2023


Bears on the Australian dollar appear to be in control. The AUD/USD pair is steadily approaching the target level of 0.6425, with the Marlin oscillator pointing downwards. The current situation on the daily chart does not indicate a high probability of an alternative (bullish) scenario unfolding.

This image is no longer relevant

However, such a sign exists on the four-hour chart. This is the convergence between the price and the Marlin oscillator and the oscillator ready to move into the positive area.

This image is no longer relevant

If the price goes through a corrective growth, the first resistance level will be the MACD line (0.6534). Further ahead, the price will encounter the target level of 0.6567, the low of March 10th. We can confirm the decline once the price surpasses yesterday's low at 0.6461.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex always strives to help you
    fulfill your biggest dreams.
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback