AUD/USD
The Australian dollar fell by 225 points yesterday (at the close of the day), weighed down by global pressure from the US dollar. The aussie currently lost another 276 points at the Asian session, having worked out technical support through the price channel. The currency was supported by the morning data on employment in Australia: 26.7 thousand new jobs were created in February, while the unemployment rate fell from 5.3% to 5.1%.
But the aussie's decline looks no less dramatic - after overcoming the support of the embedded price channel line at 0.5510, the target opens at 0.5395 - the peak of August 2001. Consolidation below the level opens the second target of 0.5180 - supporting the lower line of the price channel.
The Marlin oscillator is deeply oversold on the four-hour chart, On the four-hour chart, the Marlin oscillator is deep in oversold, it only signals a possible price c
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