It is a national holiday in Australia and China today. Asian currencies fell in the thin market. The Australian dollar worked out the Fibonacci reaction level of 123.6% on the daily chart with the intention to go deeper under the embedded price channel line.
The immediate goal is the reaction level of 138.2% at the price of 0.6780. After it, the price will follow to the level of 161.8% at the price of 0.6737.
The price is falling below both indicator lines on the H4 chart, the Marlin oscillator is going down in the negative zone.
Sales of new homes in the US for December will be published today. The forecast is optimistic – 730 thousand against 719 thousand in November. The data will make it possible for investors to boldly continue buying the US dollar.
The material has been provided by InstaForex Company – www.instaforex.com