AUD/USD

On Thursday, the Australian dollar successfully remained below the 0.6578 level. The price continued to fall to the intermediate level of 0.6525 – the peak of November 6, 2023. The 0.6578 level now serves as a limit for the correction.

The Marlin Oscillator has sharply reversed upward, indicating the seriousness of the correction. It is unlikely that there will be a new decline before the Federal Reserve meeting next week. Today's data on personal income and spending in the U.S. might be received by market participants with caution.

On the 4-hour chart, Marlin has sharply reversed upward. This suggests rapid exhaustion and, as a consequence, moderation in the corrective rise. The aussie may surpass the 0.6578 level, but only briefly. We are waiting for the Fed meeting.