AUD / USD pair
On Tuesday, the Australian dollar rose by 30 points despite the decrease in the RBA rate from 1.25% to 1.00%. This is partly due to the expected decision and partly from the external calm background after Monday's anxiety that resulted in losing more than 60 points. Technically, the correction occurred from the support of the embedded line of the price channel on the daily chart but the general trend remains declining. The Oscillator Marlin did not go out of the "bears" zone on H4.
The scenario can also be realized with growth to the upper boundary of the price channel - 0.7040. This can occur in the case of accented lethargy on European currencies or even in their correction. Of course, the growth of the "Australian" will be short-term in this case. For a mid-term price reduction, it is necessary to go below the strong support of the price channel line and the MACD line below 0.6950 on the daily scale chart. The target reduction is on the support of the embedded line at 0.6843 on the daily price channel. From a practical point of view, it is advisable to resume trading only on Friday, which is the day of the publication of US employment data.
