The Australian dollar fell by a symbolic four points yesterday, but it did the most important thing – it consolidated at the target level of 0.6900. The Marlin oscillator has penetrated into the zone of bears on a daily scale, the target at 0.6680 is open. Today’s Australian employment data for May, which showed an increase in unemployment from 6.4% to 7.1%, will contribute to this.
Marlin also infiltrated the declining trend zone on the four-hour chart, the price under the indicator lines of balance (red) and MACD (blue) – we expect the Australian currency to decline further.
The material has been provided by InstaForex Company – www.instaforex.com