AUD/USD
The Australian dollar hit the 0.7564 target level yesterday and reversed from it. Now the price is below the price channel line on the daily chart, which increases the potential for a reversal and further decline. The Marlin oscillator is already turning down. The first target is 0.7490, the second target is the 0.7400/10 range - the lower line of the price channel.
The price and the oscillator visually intend to continue to decline on the four-hour chart. This is prevented by Marlin itself, who stays in the growth zone.
As the price approaches the level of 0.7490, Marlin will enter the negative area and the decline will receive support - the rate of the price decline may increase. We are waiting for the development of events.
The material has been provided by InstaForex Company - www.instaforex.com