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Unfortunately, the potential divergence between the price and the Marlin oscillator has not been confirmed. Taking advantage of this technical "weakness" and the growth in adjacent markets, the Australian dollar surpassed the resistance level of 0.6874 yesterday.
It is now close to the target level of 0.6933; breaking through this level will open the path to 0.7014. On the four-hour chart, multiple rebounds of the Marlin oscillator from the neutral zero line have increased the growth potential.
The price has already consolidated above 0.6874. Even a local downward reversal of the signal line might not prevent reaching the nearest target of 0.6933. After that, the situation will be reassessed. The probability of reaching 0.7014 stands at 55%.
The material has been provided by InstaForex Company - www.instaforex.com #
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