On Monday, the Australian dollar rose by 22 points and was stopped by the upper limit of consolidation from November 5. According to the Marlin oscillator, an original triple divergence was formed. As a consequence, now we are waiting for the price to turn down.
The target of 0.6850 is to support the embedded line of the red price channel. The upper line of the price channel may not be reached.
As seen on the four-hour chart, the situation is rising: the price is above the balance and MACD indicator lines, the signal line of the Marlin oscillator is in the growth zone. To form a reversal signal, we are waiting for a price decrease under the MACD line (0.6900). At this point, visually, the Marlin signal line will move into the negative numbers zone.
Origin: InstaForex
