The Australian dollar dropped 60 points yesterday, hitting the target level of 0.7171, and is correcting slightly this morning and is waiting for further drivers from external markets. The main expected news of the day will be US employment data for December. A decrease in unemployment is expected from 4.2% to 4.1%, which, of course, may extend the aussie’s decline to the target level of 0.7065 by the beginning of next week.
The price is stuck at the 0.7171 target level on the four-hour chart, which can be taken as a short-term consolidation before further decline. The signal line of the Marlin Oscillator rises with the intention of shedding tension before moving further down.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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