empty
 
 
26.05.2023 05:33 AM
Forecast for AUD/USD on May 26, 2023

AUD/USD:

After successfully breaking down the target level of 0.6567, the AUD/USD pair is heading towards the target level of 0.6425. The target level of 0.6340 is just below it. The signal line of the daily Marlin oscillator is showing a slight upward turn, indicating a slowdown in the decline caused by the momentum from the Reserve Bank of New Zealand's decision to keep the rate unchanged on Wednesday.

This image is no longer relevant

From a purely technical standpoint, there are no reasons for the Australian dollar to undergo a deep correction. It may consolidate (not exceeding 0.6567) with further movement towards the specified targets.

This image is no longer relevant

On the four-hour chart, the price is flat, and the Marlin oscillator is sideways, which could be the reason for an upward correction. A correction to the nearest resistance at 0.6567 is likely.

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 $1000 more!
    In April we raffle $1000 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