Yesterday, the Australian dollar tried to develop a downward movement (which is evident from the long lower shadow), but the overall situation with the US dollar, which fell by 0.48%, did not allow the bears to develop an attack. The Marlin Oscillator is in the negative area, corrective growth does not seem to be pronounced. The target level of 0.7500 will probably not be surpassed, that is, the price will not settle above it.
The four-hour chart shows a slight convergence of the price with the oscillator, the correction continues to develop. The price is facing strong resistance – the 0.7500/10 range formed by the target level (December 2017 low) and the MACD line. From the specified range, in accordance with the main scenario, we are waiting for a new wave of decline. Consolidating above 0.7510 will open the 0.7558 target – local resistance on April 4 and 6 (marked on the chart).
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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