Yesterday, the Australian dollar showed good growth, closed the gap, but it has not hit the 0.7291 target. Perhaps the price will go a little higher, to the high on January 13 (0.7315). Rising above this level will mean that investors are confident that the Federal Reserve will not raise the rate at the next meeting on March 16th. The main scenario assumes a corrective decline after hitting the target range of 0.7291-0.7315. The Marlin Oscillator on the daily indicates a slowdown in the trend.
The situation is completely ascending on the H4 chart: the price is above the indicator lines, the Marlin Oscillator is growing in the positive area. Active growth in commodities supports the aussie’s optimism.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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