On Tuesday, the price was unable to strengthen the primary signs of growth, turned down from the resistance of the balance indicator line on the daily scale and even went under the support of the MACD line, however, staying above the target level of 0.7223. The Marlin Oscillator is moving sideways in the downward trend zone. The situation is also confused by increased volatility in adjacent markets, so it is advisable to wait one day for clarification of the situation and the market intentions for the Australian currency. Reverse exit above the MACD line with a consolidation above it will return the mood for long positions, consolidation below 0.7223 will give confidence to the bears.
On a four-hour timescale, the situation is almost identical to the daily one and does not provide more information: the price is below the indicator lines, Marlin is trying to chart an upward reversal in the negative zone.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.