Currency pair Australian Dollar to US Dollar 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 bull trend. Prices broke through the area between signal lines upwards, indicating pressure from the bulls in the currency pair and potential continuation of price growth already at current levels. At the time of the forecast publication, the rate of Australian Dollar to US Dollar stands at 0.6489. Currently, one should expect an attempt to develop a bearish correction and testing the resistance area near level 0.6505. A subsequent price bounce downwards and further declines in quotes into the region below the level of 0.6365.
Australian Dollar Forecast AUD/USD for June 5, 2025
Additional indication of the currency pair AUD/USD’s decline would be a bounce off the resistance line on the Relative Strength Index (RSI) indicator. A second signal in favor of this scenario would be a rebound from the upper boundary of the reversal pattern “Head and Shoulders”. Cancellation of the scenario for AUD Dollar quotes falling on Forex would be a strong price increase and a breach of the 0.6595 level. This would indicate a break of the resistance area and continuation of the rise of the currency pair AUD/USD with a potential target above the 0.6745 level. To expect confirmation of the decline, wait for a breach of the support area and closing quotes below the 0.6375 level, indicating a breach of the lower boundary of the reversal pattern “Head and Shoulders” and beginning the implementation of the pattern with targets down.
Australian Dollar Forecast AUD/USD for June 5, 2025 anticipates a test of the resistance level near the area of 0.6505. Subsequently, continuation of price drops below the level of 0.6365. An additional signal in favor of decreasing the pair would be a bounce off the trend line on the Relative Strength Index (RSI) indicator. Cancellation of the decline scenario will be a strong rise in AUD/USD quotes and breaking the area of 0.6595. This will indicate continuation of the price increase with a potential target above level 0.6745.
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