AUD/USD:
The Australian dollar is consolidating around the level of 0.6560. Yesterday, the Australian dollar closed the day with a symbolic gain, which confirmed its position above the target level of 0.6560. This morning, the price dipped below this level, but since the session has just started, the signal may turn out to be false to a greater extent than yesterday's price consolidation.
Returning above 0.6560 will push the price higher, with the nearest target being the MACD indicator line around 0.6638. If the price breaks below the nearest support level of 0.6516, the pair may resume its downtrend towards 0.6388.
On the four-hour chart, the price has been consolidating above the support level of 0.6560, and the signal line of the oscillator is also consolidating above the zero line. Therefore, the current move below 0.6560 increases the chances of this movement being false.
