On Friday, the Australian dollar tested the price channel line at the point where it intersected with the balance indicator line. Today's session opened below the daily-scale MACD line, which signals more decisive action by the bears.

A break below Friday's low will open the way toward the 0.6450 target. However, the Marlin oscillator remains in positive territory for now, so the minimum objective for the Aussie would be to close the day with a bearish candle, thereby securing a position below the MACD line. If this occurs, the price may target lower levels after the FOMC meeting.

On the four-hour chart, the MACD line reinforces the green price channel, so consolidation below this level would be a strong signal that the pair intends to develop a downward movement following the FOMC meeting. The Marlin oscillator is also consolidating in negative territory. We await further developments.