Over the past day, the Australian dollar has not decided on the choice of direction. Yesterday’s decline was insignificant, the price forms a sinusoidal along the 0.7500 level axis. The Marlin Oscillator does not show signs of a reversal on the daily chart.
It is likely that investors are in no hurry to stay ahead of the curve ahead of today’s US employment data. The forecast for new jobs in the non-agricultural sector is 490,000, the unemployment rate may decrease from 3.8% to 3.7%. If expectations are not disappointed, the price may reach the target range of 0.7415/30, if expectations are not met, the price will soon test the target level of 0.7600.
On a four-hour scale, the price is below the MACD indicator line and the Marlin Oscillator is below the zero line, but the sinusoidal nature of the price movement can cancel these weak bearish signs at any moment. We are waiting for the release of US data.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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