Currency pair AUD/USD continues its movement within the framework of forming a reversal pattern “Head and Shoulders”. Moving averages indicate the presence of a short-term bullish trend. Prices have broken through the area between signal lines upwards, which indicates pressure from the bulls of the currency pair and potential continuation of the growth of the instrument’s value already from current levels. At the time of publishing this forecast, the Australian Dollar to USD exchange rate is 0.6483. Currently, it makes sense to expect an attempt at development of a bearish correction and testing the resistance area close to level 0.6505. Further price bounce down and continuation of price levels’ fall below the 0.6345 level.
Australian Dollar Forecast AUD/USD for June 3, 2025
Additional indication of a fall in the currency pair AUD/USD would be a bounce off the resistance line on the Relative Strength Index (RSI). The second signal for this scenario will be a rebound from the upper border of the reversal pattern “Head and Shoulders”. Confirmation that the Australian Dollar’s Forex quotes are falling comes with strong price growth, breaking through the level 0.6565. This would indicate a breach of resistance areas and continuation of the AUD/USD currency pair’s rise with potential targets above the level 0.6705. An expectation for confirmation of this fall can be awaited upon breaching support area and closing quotes below the level 0.6375, indicating that it is through the lower border of the “Head and Shoulders” reversal pattern and the start of implementing patterns with targets downwards.
Australian Dollar Forecast AUD/USD for June 3, 2025 anticipates a test of the resistance level in the vicinity of the area 0.6505. Following that, continuation of price drops below the level of 0.6345. An additional signal favoring the decline of the pair will be a bounce off the trend line on the Relative Strength Index indicator. Cancellation of the downtrend option will be a strong rise in AUD/USD quotations and breaking through the area 0.6565. This will indicate continuation of the price rise with a potential target above the level of 0.6705.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
