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The Australian dollar is entering a corrective phase. On Tuesday, the AUD/USD pair set a new local low, and by Wednesday, the price climbed back above the 0.6482 level. Today's session began on a positive note, with the pair showing growth.
On the four-hour chart, the Marlin oscillator has tested the neutral zero line. The price has consolidated above the MACD moving average. If no bearish reversal occurs and the price does not fall back below the 0.6482 support level, the target resistance at 0.6570 is likely to be reached shortly.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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