Currency pair Australian Dollar to US Dollar AUD/USD continues movement within the framework of forming a reversal pattern “Head and Shoulders”. Moving averages indicate the presence of short-term bullish trend. Prices pierced the area between signal lines upwards, which indicates pressure from the bulls of the currency pair and potential continuation of price increase already at current levels. At the time of this forecast, the Australian Dollar to US Dollar exchange rate is 0.6461. Currently, it’s expected a bearish correction attempt with testing the resistance area near level 0.6495. Then, a price bounce down and continuation of the prices’ fall into an area below level 0.6365.
Australian Dollar Forecast AUD/USD for June 4, 2025
Additional indication for the decline of the currency pair AUD/USD will be a bounce off the resistance line on the Relative Strength Index (RSI). A second indication supporting this scenario is a rebound from the upper boundary of the reversal pattern “Head and Shoulders”. The scenario with a drop in the Australian Dollar’s quotes on Forex being canceled would be a strong price increase and penetration of the level 0.6575. This will indicate a breach of resistance area, and continuation of growth for AUD/USD currency pair with potential target above level 0.6725. Wait for confirmation of the decline in parity with penetration into support area and closing quotes below level 0.6375, which indicates a breach of the lower boundary of the reversal pattern “Head and Shoulders” and beginning of implementing the pattern down to targets.
Australian Dollar Forecast AUD/USD for June 4, 2025 anticipates a test of the resistance level near the area of 0.6495. Following this, continuation of the price drops below the level of 0.6365. An additional signal in favor of pair depreciation will be a bounce off the trend line on the Relative Strength Index (RSI) indicator. Cancellation of the decline option will be a strong rise in AUD/USD quotes and breaking the area of 0.6575, indicating continuation of the price rise with potential target above level 0.6725.
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