The Australian dollar's growth on Friday could not be transformed into a full-fledged growth and the day was closed with a loss of two points. Today, the price has been rising since the session opened, the signal line of the Marlin oscillator is reversing upward.
This is a sign of further development of growth, but it may be uneven and even with a possible revision of the support at 0.7445, which can be seen on the chart of a smaller scale.
On the H4 chart, the price is turning up from the balance and MACD indicator lines, the Marlin Oscillator is moving up, but has not yet left the negative zone. In some cases, this pattern is sufficient to complete the correction and for the price to rise, but, the target support at 0.7445 has not been reached, which creates the precariousness of the situation. The correction can end at 0.7445 or deepen to 0.7414. Overcoming Friday's high (0.7513) will remove this dilemma and the growth will continue to the first target of 0.7566. These are the lows on March 25 and February 2 this year.The material has been provided by InstaForex Company - www.instaforex.com