AUD/USD
Yesterday, the Australian dollar grew by 25 points, showing steady growth over all the graphical and resistance indicator on the daily chart. The growth target of 0.7048 is the upper limit of the price channel.
But the observed growth has a big pitfall – on the four-hour chart, the Marlin oscillator is steadily declining against the price growth. Soon, the signal line may be in the negative zone and the growth will weaken with a possible subsequent reversal. The target of 0.7048 may not be reached.
For a full reversal, the price needs to go under the MACD line on the daily chart (0.6945). Below is the MACD line on the chart of the lower scale (0.6935), but if the price overcomes the support on the daily chart, it will be a matter of a short time to go under the MACD line on H4.
