The Australian dollar has given up efforts to test the upper boundary of the descending price channel on the daily chart. This price weakness is also reflected in the downward movement of the Marlin oscillator, which similarly failed to reach the growth territory.
The support level at 0.6077 has now become the main target. Notably, its intersection with the lower boundary of the price channel acts as a magnetic point, indicating the projected low for tomorrow.
On the four-hour chart, the price is attempting to break the support of the MACD line. The Marlin oscillator supports this effort as it remains below the zero line. If the price dips below yesterday's low, it will trigger a move towards the target of 0.6077.
