The Australian dollar closed the day down 95 points on Friday, having worked out one of the embedded lines of the falling price channel (daily) with a lower shadow. This morning the price is trying to get above the resistance of 0.6439. In the event of consolidating above the level, the price may continue to grow towards the target resistance of 0.6515.
The Marlin Oscillator is already turning into a correction. The price's return to the area under the Friday low, or rather, under the line of the price channel of 0.6385, opens the target along the underlying parallel line in the area of the price level of 0.6330.
On a four-hour scale, the price is attacking the resistance level of 0.6439 and at the same time the Marlin Oscillator is trying to move into the zone of positive values.
If such a synchronous qualitative transition takes place, then the aussie will continue its short-term growth, but it may not reach the 0.6515 target, since the MACD line is already passing under this level, and over time it will be lower and lower, creating its own resistance. We are waiting for the correction to end and the price to return to a new downward wave.
Relevance up to 04:00 2022-10-04 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.
