The Australian dollar has been actively trading over the past two days in the range between the MACD line and the price resistance level of 0.6832 – the low of June 18. The signal line of the Marlin oscillator began to turn down, being in the negative zone, the price continues s to overcome the support of the MACD line (0.6797) to strengthen the downward movement.
The aim of the fall is still the embedded channel line in the region of 0.6745.
On the H4 chart, the price worked out a correction of 38.2%, making a false and insignificant exit over the MACD line. The Marlin oscillator is still in the growth zone, but after the price drops below the level of 0.6797, the signal line of the oscillator will go to the territory of the bears.
Origin: InstaForex
