The Reserve Bank of Australia kept the monetary policy unchanged yesterday, but signaled that it could raise rates in the medium term. The Australian dollar overreacted and soared more than 120 points, although the daily close was 36 points. The price reached the 0.7646 target level and is currently under the target level of 0.7600. The price divergence with the Marlin Oscillator is formed. Now we are waiting for further price reductions. The first target is 0.7500, then the range is 0.7415/30.
On a four-hour scale, the MACD line (0.7548) acts as an obstacle to the aussie. Overcoming this support will give the bears more strength. Around the same time, the signal line of the Marlin Oscillator will move into the downward trend zone.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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