Yesterday, on a sharp increase in risk appetite, set by Federal Reserve Chairman Jerome Powell, who announced an upward trend in the US economy, the Australian dollar jumped 92 points, supported by the growth of commodity markets (iron ore 2.8%, copper 2.3%, natural gas 3 ,nine%). This morning the 0.7315 target level was reached and the price rolled back a little from it.
The Marlin Oscillator has settled in the positive area on the daily chart and now the aussie has a chance to hit the target range of 0.7415/30 for the second time in a month. But the price should still settle above the nearest level of 0.7315.
On the four-hour chart, the price delay occurred on the MACD line (blue indicator line). For further growth, the price should settle above it, or rather above the target level of 0.7315, since the price has already pierced it. The Marlin oscillator is in a growing position, we are waiting for further short-term growth of the Australian currency.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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