AUD/USD
The Australian dollar took on higher commitments yesterday and bravely stepped out of the embedded price channel line. The Marlin oscillator keeps the market interest in buying yesterday and today in a growing position.
Our main scenario is a downward one, but if the price overcomes yesterday's high, it is possible that the growth will continue to the level of 0.7647 - to the low on June 3. A price return below the price channel line below 0.7552 will return the price to a downward mood. The closest target will be the level 0.7490.
On the four-hour chart, the price met an obstacle to growth from the side of the MACD line. The Marlin oscillator is flat, but declining. We are waiting for the price to settle below the level of 0.7552 and a further decline to 0.7490.
According to the alternative scenario, after consolidation above 0.7600, growth to 0.7647 is possible.
The material has been provided by InstaForex Company - www.instaforex.com