Forecast for AUD/USD on May 30, 2023

AUD/USD:

On the daily chart, the price has returned to the resistance line at 0.6567 (March 8 low). The signal line of the Marlin oscillator is actively rising, indirectly assisting the price in overcoming the resistance.

Additionally, the oscillator may discharge the tension, and when it feels an increase in pressure from above, it will turn into a medium-term decline. The nearest target is 0.6425.

On the four-hour chart, there are two resistances on the way to the 0.6628 target: the yet-to-be-overcome level of 0.6567 and the MACD indicator line at 0.6583. The Marlin oscillator is doing its best to help the price overcome these resistances. We'll find out just how the aussie will fare once the US increases its debt limit.

The material has been provided by InstaForex Company - www.instaforex.com

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