This morning, the Australian dollar broke significantly below the support level of 0.6482, aiming for 0.6410 and potentially 0.6351 (the low from August 5).
If the excitement surrounding Trump's tariff policies escalates, the price may continue its downward movement. However, we anticipate a correction of at least 0.6570 (close to the 23.6% Fibonacci level) or 0.6640 (38.2% Fibonacci level).
In the four-hour timeframe, the price quickly fell back below the balance and MACD lines after yesterday's false breakout above them. The Marlin Oscillator is declining within the territory of a downward trend. The support at 0.6410 will likely be tested, ultimately leading to a double divergence on the daily chart.
