Yesterday, the Australian dollar dropped 59 points, breaking the support of the embedded line of the descending price channel and the target level of 0.7564 - the lows of March and February of this year. The Marlin oscillator is slightly turning up, which indicates the beginning of the consolidation below the reached supports before further advancing to 0.7490.
The price has settled below 0.7564 on the four-hour chart, Marlin is showing growth. We are waiting for the correction to end and a succeeding decline, probably as early as next week.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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