Yesterday, the Australian dollar declined and today it's falling as fast as it was rising on Monday. The price fell below the balance indicator line, intending to reach the 0.6670 target, which it failed to hit yesterday.
But the Marlin oscillator is in no hurry to fall, creating the risk of a reversal above 0.6730. To reduce this bullish development, the price should consolidate under the balance line, i.e. close below this line by today. New bearish targets are 0.6670, 0.6628 (lows of March 24 and December 20).
Climbing above 0.6730 and consolidating will encourage the bulls to continue rising to 0.6873 (intermediate level at 0.6810).
On the four-hour chart, the price settled under the MACD indicator line. The oscillator signal line is in the descending territory. The main trend is downward.
