The aussie has successfully broken through the resistance at 0.6700 and it is now aiming for the 0.6871 target, the low of August 5. The Marlin oscillator does not share the optimism, but it is forced to move up. Yesterday's momentum was set by the fact that the Reserve Bank of New Zealand hiked the rate by 0.75%, but today the USA is celebrating a holiday, so we expect less volatility.
If the price weakens enough to reach the level of 0.6700, it could fall further and hit 0.6595, which will be followed by a change in the trend. It is uncertain whether the price will reach the intended target at 0.6871 or return to 0.6700.
On the 4-hour chart, the price settled above the balance and MACD indicator lines, the Marlin oscillator is rising in the positive area. There is an uptrend, but the whole question is about the aussie's strength. Commodity markets are rising weakly and oil lost 4.2% yesterday.
Relevance up to 03:00 2022-11-25 UTC+1 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.
