The Australian dollar is on the MACD line on the daily chart. Setting the price below it can trigger a medium-term decline with a movement of about 4.5-5 figures. A condition that can confirm the medium-term decline is when the price leaves the area below the low of 0.7223. The first target will be the August 3 low at 0.7075. Also, in order for the price to confidently settle under the MACD line (0.7277), the aussie needs the signal line of the Marlin oscillator to fall into the zone of negative values.
The situation is also neutral on the 4-hour timeframe. The price is consolidating at the 0.7277 level. The Marlin oscillator moves gently, it can lie in the horizon without entering the growing trend zone. We are waiting for the development of events.
The material has been provided by InstaForex Company - www.instaforex.com