The Australian dollar hit the target level of 0.7171 on Wednesday. Now the price has two options: to settle above that level and continue to rise to 0.7227 and further to the MACD line of 0.7295, or go into a correction relative to the entire previous three-day growth. The Marlin Oscillator is in a stable growing position, and this circumstance makes the growing scenario more likely. Correction more technically can occur from the level of 0.7227, when Marlin reaches the border with the territory of growth.
The price is above the indicator lines on the four-hour chart, the Marlin Oscillator is in the growth zone, has approached the overbought zone, but may go deeper into it, which may contribute to the price revision of the 0.7227 level. A correction to the MACD line is possible in the price area of 1.7100.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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