AUD/USD:
Last Friday, the Australian dollar stayed above the target level of 0.6873. This morning, the price aggressively fell towards the target support level of 0.6810, accompanied by a downward turn in the Marlin oscillator. This situation indicates that the Friday consolidation was false, and now we expect the price to try and consolidate below 0.6810. If it succeeds, we expect the price to fall towards the target support level of 0.6730, which coincides with a 38.2% correction level from the recent one-and-a-half-month rise.
On the four-hour chart, the Marlin oscillator broke out of its consolidation range and moved up on Thursday but returned back into it on Friday evening. This also appears to be a false movement of the oscillator, and now we expect it to leave the range and fall into a bearish trend.
The MACD indicator line is approaching the level of 0.6810. Consolidation below this level on the four-hour chart would correspond to consolidation below the indicator line, signaling a further decline. However, breaking the Friday high at 0.6902 could disrupt this plan. In that case, the target would shift to 0.6940 (daily).
