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The Australian dollar has surpassed the peak of August 29 (0.6827) and consolidated above the 0.6801 level on the daily time frame. The price may reach the target level of 0.6874, forming a stronger divergence with the Marlin oscillator.
Breaking through the MACD line (0.6727) will signify a trend reversal on a medium-term horizon. But for now, the bulls need to overcome the peak of September 19 (0.6842).
On the 4-hour chart, the price consolidates above the 0.6801 level, and the Marlin oscillator turns upward from the zero line. The price is developing above the balance and MACD indicator lines. These signs indicate a sustained short-term growth potential.
The material has been provided by InstaForex Company - www.instaforex.com #
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