Forecast for AUD/USD pair on June 3, 2019

Posted On 03 Jun 2019

AUD / USD pair

The May Australian manufacturing activity index (AIG Manufacturing) fell from 54.8 to 52.7 in May, but in spite of this, the Australian dollar continues its Friday growth. This was driven by Donald Trump following the unexpected increase in import duties on Mexican goods by 5%, which allegedly due to the migration crisis. In the future, it is planned to gradually increase duties to 25%. The price fixed above the nearest nested line of the price channel and the signal line of the Marlin oscillator has entered the zone of positive values, which is the trend growth zone.

On the four-hour chart, an unconditional growth was observed. The price has fixed above the balance lines and MACD while the Marlin oscillator in the growth zone shows no signs of a downward trend.

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Source:: Forecast for AUD / USD pair on June 3, 2019

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