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Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Forecast for AUD/USD on May 30, 2023
23:47 2023-05-29 UTC--4
Exchange Rates analysis

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.

analytics6475618362d0f.jpg

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.

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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.