The aussie fell 66 pips on Monday, having reached the target support at 0.6595 as the lower shadow of the one-day candle. This morning, the price is slightly correcting to the upside, but the mood, according to the falling Marlin oscillator, is still declining.
Breaking through the 0.6595 level will make the 0.6514/32 range available as a target. The range corresponds to the highs of the wide-range consolidation in late September and early October.
The price is not yet strongly reflected from the support on the four-hour chart, within a standard consolidation. There is still no convergence with the Marlin oscillator, so the downward direction prevails. But before you open short positions, wait for the price to overcome the 0.6595 level, that is, when we receive a trading signal.
