AUD/USD
The Australian dollar consolidated above the indicator lines of the balance sheet and MACD and above the embedded line of the price channel on Tuesday, located just above these lines. The Marlin oscillator is growing, and so is the currency pair. Target at 0.6540 - the closest price channel line. Overcoming the first goal opens the second - the price level of 0.6670 is the extremes of the first decade of February 2020, the low of October 2019 and the February 2019.
The Marlin divergence is held on the four-hour chart. Nevertheless, there is a possibility that the first target at 0.6540 may not be achieved. In case the price falls under the MACD line (0.6330), which on the daily chart will also correspond to a price drop for the same indicator line, it opens a declining scenario with the aim of supporting the price channel line around 0.6180 (daily). Next is 0.5805.
Summary: it is advisable to wait for the price to fall, and with overcoming 0.6330, open sales with the target of 0.6180, stop loss above 0.6380.
The material has been provided by InstaForex Company - www.instaforex.com