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Despite the month-long decline in the Australian dollar, the weekly chart shows that this decline can last the same amount until the price reaches the lower border of the downward price channel around the target level of 0.6865. The Marlin Oscillator on this scale has just crossed the border with the downward trend territory, so the aussie's potential for a downward movement is large.
On the daily chart, the price lingered at the target level of 1.7136 as the Marlin Oscillator reversed. Possible consolidation before further decline.
The price converged with the oscillator on the H4 chart. This is a sign of a correction. The peak of the correction is limited by the target level 0.7240, to which the MACD line is approaching. Resistance may not be reached.
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