The Australian dollar is staying at 0.7227 and is visually ready to launch an attack on the MACD indicator line around 0.7275, the success of which will open the target at 0.7414. All of the price’s upward development since December 6 occurs below the balance (red) indicator line, that is, it has a pronounced corrective character, and therefore, in the medium term, the price may return to the November-December low. Thus, the price is now between the target levels: 0.7275 and 0.7171, and the probability of reaching the lower target is 60%.
On the four-hour chart, the situation is ascending, but the Marlin Oscillator is already close to the border of the bears’ territory. If the price moves below this border, it will coincide with the price consolidating below 0.7227, which will be the primary signal for a decline.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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