Yesterday morning, the index of business activity in the manufacturing sector of Australia for July showed a decline to 49.3 from 52.5, the US dollar index showed a daily increase of 0.91%, and as a result, the aussie lost 0.89%.
The price is approaching the target level of 0.6755 on the daily chart. Breaking the support opens the 0.6685 target. The general trend is down in the medium term, as the price develops below the indicator lines. The Marlin Oscillator is going down in the negative area.
The price is also declining below both indicator lines on a four-hour scale. The Marlin Oscillator is developing in its lower half – in the downward trend territory. We are waiting for further weakening of the Australian currency.
