The Australian dollar showed strong growth yesterday, supported by the growth of oil and gold: oil grew by 1.01%, gold by 0.73%.
However, the growth occurred at the lowest daily volumes for the last 12 months, that is, even less than the Christmas period last year, according to the Marlin oscillator, a reversal divergence is being prepared – the price yield over the embedded price channel line can already be determined as false.
With the price leaving yesterday’s low, the 0.6846 target opens – the point of coincidence of the MACD line with the underlying embedded line of the price channel.
On the four-hour chart, the main support is the MACD line (0.6915). Consolidating the price below it can strengthen the aussie’s decline.
Origin: InstaForex
