The Australian dollar took full advantage of yesterday's weakness in related markets, primarily debt, as the yield on 5-year US bonds fell from 3.60% to 3.37%, and grew by 130 points. And this morning it reached the target level of 0.7037. At the same time, the signal line of the Marlin Oscillator has reached the zero line and is now going to turn down from it.
The final confirmation of the completion of the correction and the reversal of the trend back to the downside will be the price moving under the target level of 0.6951 (May 18 low).
On the four-hour scale, the readings of indicators indicate that growth has not yet cooled down. The price has the opportunity to reach the resistance along the MACD line (0.7087), but even here a signal is needed in the form of consolidating above 0.7037.
We are waiting for the development of events, our main scenario is movement to the downside.
