The Australian dollar overcame the target level of 0.7500 yesterday. The 0.7600 target has opened (the high of July 2021), but we are confused by the reversal of the signal line of the Marlin Oscillator from the overbought zone.
Against the background of the general weakening of the US dollar, the aussie’s chances of rising by a figure are high, but at the same time, the internal, not obvious risk, which is not calculated mathematically, also increases. In this situation, trading positions are usually opened with reduced volumes.
Despite the vigorous price growth on the four-hour chart, the divergence has not been broken. A price reversal may occur today, and then the price exit above 0.7500 will become false and the nearest bearish target at 0.7415/30 will open.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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