AUD/USD
The Australian dollar slightly grew on Friday under the general market sentiment to weaken the US dollar, but the resistance of the enclosed line of the price channel turned out to be stronger than the indirect influence, and the price retreated.
At the moment, the price is still above the MACD line of the daily scale, but overcoming it at the 0.6316 level is the first signal to pull down the Australian currency. Leaving the price under the Friday low of 0.6265 will create a more powerful momentum to decrease - first to the nearest line of the price channel at 0.6175, then to the next one at 0.5798.
Both signal levels are marked on the four-hour chart. Here we also see that the price has turned down from the MACD line and is currently decreasing under the balance line. The Marlin oscillator also turned down without going into the growth zone.
The material has been provided by InstaForex Company - www.instaforex.com