The internal political confrontation in the United States (a court ruling overturned Trump's trade tariffs) has brought the Australian dollar back into the 0.6394–0.6444 range. The Marlin oscillator has settled in negative territory, setting the stage for a potential price attack on the 0.6394 support level.
A consolidation below this level would also mean a break beneath the daily-scale MACD line, aiming further downward toward 0.6262 — the support level for all of March. However, if the market decides that the recent news will not significantly affect short-term investor sentiment and the price breaks above 0.6444, the next target will be 0.6547 — the embedded line of the price channel. The probability of both scenarios is currently equal.
On the four-hour chart, the price has consolidated below the MACD line, and the Marlin oscillator, though sluggishly, continues to decline. Likely, the price will still attempt to test the 0.6394 support level.
