The Australian dollar closed yesterday with a black candlestick at 70 points, and this candle still has a lower shadow of 68 points. This morning the price is consolidating under the MACD indicator line of the daily scale. The Marlin Oscillator has penetrated into the zone of negative values. After a short consolidation, we are waiting for further price movement down to the target level of 0.7065. Consolidation below the level makes way for the 0.6950 target.
On the four-hour chart, the price settled below the balance and MACD indicator lines, the Marlin Oscillator is leaving the oversold zone. After the correction is completed, the oscillator will discharge and will be ready for further downward movement.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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