Yesterday, like the European currencies, the Australian dollar stayed in a wide range, after which it outlined a break through of technical supports. On the daily chart, such support is the embedded line of the downward channel.
Overcoming it (leaving the area below 0.6260) opens the next target at 0.6195, there is another price channel line below it, which the price can reach at around 0.6155. The Marlin Oscillator is still resisting such a plan and is growing against the price, which may slow down the aussie and strengthen it against European currencies in the short term.
On the four-hour chart, the price is supported by the MACD indicator line. The Marlin Oscillator has already moved into negative territory and is helping the bears cope with the supports to the best of its ability.
Relevance up to 04:00 2022-10-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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