Amid yesterday’s 0.50% growth in the dollar index, the Australian currency lost 1.03%. The aussie reached the support level of 0.6628. At the same time, the Marlin oscillator has entered the area of the downtrend, opening the prospect of falling further to 0.6450.
The first target is 0.6567 – the low of March 8th. Take note that the price has moved below the balance indicator line, showing a shift in the intention to sell and the end of a prolonged wide-range consolidation that has been ongoing since mid-March.
On the four-hour chart, the price is still settling at the 0.6628 support level. Consolidation below it opens the way to the nearest target of 0.6567.
The material has been provided by InstaForex Company – www.instaforex.com
AUD/USD
Amid yesterday’s 0.50% growth in the dollar index, the Australian currency lost 1.03%. The aussie reached the support level of 0.6628. At the same time, the Marlin oscillator has entered the area of the downtrend, opening the prospect of falling further to 0.6450.
The first target is 0.6567 – the low of March 8th. Take note that the price has moved below the balance indicator line, showing a shift in the intention to sell and the end of a prolonged wide-range consolidation that has been ongoing since mid-March.
On the four-hour chart, the price is still settling at the 0.6628 support level. Consolidation below it opens the way to the nearest target of 0.6567.
The material has been provided by InstaForex Company – www.instaforex.com
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