The Australian dollar grew by 16 points on Wednesday after falling below the signal level of 0.7332, when the strong growth of the euro against the trend stopped other world currencies from falling. To continue growing, obviously, further strengthening of the euro is needed, the Australian currency needs to be helped in order for it to rise above the signal level of 0.7399 and then the road to the 0.7493 target will be opened - on the daily chart, this is the point of intersection of the MACD line with the price channel line. The Marlin Oscillator will come out of the wedge-shaped structure upwards.
If the euro turns out to be weak on today's US GDP report, then the aussie will try to overcome the lower signal level of 0.7332 once again in order to be able to pass the way to the lower border of the price channel of 0.7278.
The price settled above the MACD line, the Marlin oscillator entered the growth zone. In the absence of external hindrances, the price will overcome the signal level of 0.7399 and continue to grow.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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