The Australian dollar got into a double situation. On the one hand, the price is trying to break above the resistance of 0.6300 and the descending price channel line (green), which may lead to a subsequent increase to 0.6360, and pushes the price to such a scenario of convergence with the Marlin Oscillator, on the other hand, the price is held in a downward direction as a price channel, and the oscillator channel.
The bears have a stronger vector. The 0.6197 target is the nearest price channel line.
Bears on the aussie are also helped by raw materials, which have been falling in price for the main groups for three days.
The price is staying below the 0.6300 level on the four-hour chart. The Marlin Oscillator is not trying to move into the positive area. Above the level of 0.6300, the price is waiting for the resistance of the MACD line, so without good reason the price is unlikely to attack this level.
Relevance up to 04:00 2022-10-14 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.
