After the aussie sharply fell by 100 pips on Monday, the price momentarily overcame the decline on Tuesday, but closed the day below resistance at 0.6700. The bears won. The bulls' actions were probably due to the growth in oil (WTI 0.70%) and other commodities. Now the price, in connection with the release of the US employment and GDP data today, will pay more attention to the European currencies.
According to the main scenario, we expect the price to test the support at 0.6595. Then we expect it to break through the support and fall in the target range of 0.6514/32 or even lower, to the MACD line (0.6453).
On the four-hour chart, the price has settled below 0.6700. The Marlin oscillator, seeing how the price failed to cross the MACD line, has moved into a descending trend area.
Relevance up to 03:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
