Yesterday, the Australian dollar once again tested the resistance of the target level of 0.7171 and went down along with the rest of the market following the Federal Reserve meeting. Today it opened below the balance indicator line on the daily chart, which indicates a mixture of market interest in selling, to the beginning of a downward trend after uncertainty since the last days of December. The Marlin Oscillator is going down in the negative area. There is very little left to the first target (0.7065), and overcoming it opens the second target of 0.7007 – the low of September 2020.
On the four-hour chart, the price reversed sharply from the MACD line yesterday. Just as quickly, the Marlin Oscillator penetrated into the downward trend zone. We are waiting for further price movement to the downside.
