The Australian dollar fell by 50 points last Friday. As we expected, there has been a reversal from the 0.7770 level, but in order to break the growing trend, the price must settle below the nearest target level of 0.7641 (high on December 17). For a decisive breakdown of the growing trend and in order to change it to a downward one in the medium term, the price must overcome the support of the MACD line on the daily chart, the 0.7508 level. The Marlin oscillator is in the negative zone, which helps the price develop a downward movement.
The four-hour chart shows that the price has settled below the MACD line, the Marlin oscillator is in the bears' area - a short-term downtrend has taken place. Now we are waiting for the price to surpass the 0.7641 level.
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