The Australian dollar continues to reverse from the May 20 peak, realizing the technical potential of the double divergence on the Marlin oscillator on the daily chart. The closest support is the embedded price channel line at 0.6482. A break of the level opens the possibility of a decline to the next line to the area of 0.6335. The MACD line is located just below this mark, while the area of the second target acts as strong support.
The price overcomes the support of the MACD line on the four-hour chart, the Marlin oscillator is falling in the negative area. We expect continued price reductions, but the main development may be tomorrow, since it is a public holiday today in the US and the UK.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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