The Australian dollar spent the whole Tuesday at the target level of 0.7227, the trading volume was slightly higher than the daily average, the Marlin Oscillator intensifies its growth on a daily basis - all this together gives a reversal moment to the currency pair. To confirm this intention, the price should settle above the level of 0.7227.
On the four-hour chart, the double convergence is gaining ground. Consolidating above the MACD indicator line (0.7237) can automatically lead to the exit of the Marlin Oscillator into the positive area. This will become an already established signal, and the price may go to the target level of 0.7330 - to the MACD line of the daily scale.
The material has been provided by InstaForex Company - www.instaforex.com