The Australian dollar was down 35 points on Friday, finding the MACD line as strong support. This morning the quote is growing, the Marlin Oscillator continues to rise in the negative zone. When the oscillator breaks above the zero line, which is likely to happen tomorrow, the price will get stronger and boldly continue to grow into the accumulation range of 0.7340/90, formed in July-September.
Marlin looks settled in the growth zone on the 4-hour chart. But the price needs to go above the MACD line, above 0.7295, then the price will receive confirmation of an earlier signal from the Marlin oscillator to further growth.
The material has been provided by InstaForex Company - www.instaforex.com