Yesterday, the Australian dollar assumed leadership functions – the growth amounted to 0.66% and this morning it shows a desire to keep this leadership. On the AUD/USD daily chart, this desire is reinforced by the price leaving the area above the balance (red) and MACD (blue) indicator lines. Also, the Marlin Oscillator settled in the positive area.
There is a target level of 0.7227 just ahead, which is quite strong, its role has been visible since August 2021. We can only consider the growth option to 0.7291 (July 2021 low) once the 0.7227 level has been overcome.
On the 4-hour chart, the price rises above both indicator lines, Marlin shows a steady increase in the positive area. The first target (0.7227) is likely to be achieved, after which the aussie will solve many diverse tasks for itself, already with an eye to external markets.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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