AUD/USD
The Australian dollar has finally breached the support at 0.6504, opening up a new target at 0.6410. On the daily chart, there is a convergence forming with the Marlin oscillator. This may be associated with today's upcoming Reserve Bank of Australia meeting, the results of which could push the Australian dollar to start a corrective move.
However, the fact that recent data showed CPI came in at 4.1% in the December quarter, easing from the September quarter pace of 5.4%, may affect the central bank's stance and it could shift towards monetary easing, which can affect the aussie's decline and prevent the convergence from taking a complete form.
On the 4-hour chart, the price has settled below the level of 0.6504, and Marlin is turning upward, but it has a long way to go before it enters the oversold territory. We await the RBA meeting.
