The Australian dollar wants to quickly get out of the 0.7340/90 range.
The Australian dollar traded in a 53-point range yesterday, closing the day with a 5-point black candle. All trading took place in the indicated range of 0.7340/90, which was formed in July-August.
But yesterday's entire trading process took place above the balance indicator line, and the Marlin Oscillator was in the zone of positive values, which significantly reduces the likelihood of a deepening correction and prepares the price for growth to the nearest target level of 0.7445. Exit above the level will open the second target at 0.7566 (February low).
The price is also above the balance line on the four-hour chart. The signal line of the Marlin oscillator touched the border with the bears' territory. The line can reverse directly from the line, it can go slightly below it, creating a false exit to the downside, which will subsequently become another signal for growth. The rising trend will be broken when the price moves below the MACD indicator line, below 0.7287.The material has been provided by InstaForex Company - www.instaforex.com