The Australian dollar fell back below 0.6668 yesterday. Today, the decline continues quite actively. Accordingly, the breakout with consolidation on the 16th turned out to be false, which signals the prospect of medium-term downside movement.
Confirmation of this scenario will come if the price moves under the MACD line, located near the August 14 high at 0.6571. This would open the target at 0.6450.
On the four-hour chart, the price has broken below the MACD support line. The Marlin oscillator is declining steeply. We expect the situation to develop further along the main bearish scenario.
The material has been provided by InstaForex Company - www.instaforex.com
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AUD/USD
The Australian dollar fell back below 0.6668 yesterday. Today, the decline continues quite actively. Accordingly, the breakout with consolidation on the 16th turned out to be false, which signals the prospect of medium-term downside movement.
Confirmation of this scenario will come if the price moves under the MACD line, located near the August 14 high at 0.6571. This would open the target at 0.6450.On the four-hour chart, the price has broken below the MACD support line. The Marlin oscillator is declining steeply. We expect the situation to develop further along the main bearish scenario.
The material has been provided by InstaForex Company - www.instaforex.com