At the moment, the Australian dollar grew by 27 points yesterday, but later gave way to the pressure of the US dollar and the day closed with a black candle. Today in the Asian session, the price pierced the MACD line of the four-hour chart. In the current situation, the support of the MACD line of the daily scale (0.7107) no longer looks significant, we are waiting for its overcoming. After consolidating the price below this line, we expect the price to decline to the embedded support of the price channel of 0.7025.
We believe that this time the consolidation range of 0.7060-0.7100 will finally be passed. However, the long lateral movement of the signal line of the daily scale marlin oscillator warns of possible difficulties. They will disappear if the marlin oscillator quickly passes the range of lateral movement, which is highlighted on the graph with a gray rectangle.The material has been provided by InstaForex Company - www.instaforex.com