The Australian dollar was down 14 points yesterday, returning below the balance indicator line on the daily scale. Today, it opened below this indicator line, which generally indicates the aussie's desire to follow to the downside.
This plan may be hampered by tomorrow's ECB meeting, according to which the euro has a high probability of going up and leading other currencies. The aussie has an immediate bullish target of 0.7788 - daily MACD line. Consolidating above it opens the target at 0.7880.
The main scenario remains downward, with targets at 0.7641, 0.7565.
On the four-hour chart, the price is above the balance and MACD indicator lines, Marlin is also in the growth area. Falling under the MACD line, below 0.7730, will also lead to the oscillator's movement to the negative area. The price will start fighting to move towards bearish target levels.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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