empty
 
 
06.04.2021 05:49 AM
Forecast for AUD/USD on April 6, 2021

AUD/USD

Yesterday, the Australian dollar gained 41 points following the euro's growth, but the target level of 0.7665, as we thought, was not reached. Continuing this idea, we can assume that today the price will turn down, tomorrow this reversal will consolidate and in a few more days the target level of 0.7500 will be reached.

This image is no longer relevant

The Reserve Bank of Australia will announce its plan and mood for monetary policy. The main opinion of market participants is the central bank's expectation of further economic data not only for the United States, but also for Australia, and monitoring of the Federal Reserve's actions. Therefore, for now, the central bank will maintain a dovish attitude. This event may become the main reason for the aussie's downward reversal today.

This image is no longer relevant

The price is above both indicator lines on the four-hour chart, but the leading Marlin oscillator is set to decline, indicating a return to the lower border of the consolidation that began on March 25.

So, we are waiting for the RBA's decision and the subsequent actions of major players.

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
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 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.
    JOIN CONTEST
  • 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.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

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