The Australian dollar reached the target support level of 0.7223 on Monday and turned upwards from it to close the price gap that has happened since the market opened. This gap has not yet been closed at the moment and resistance is provided by the MACD indicator line on a daily scale. Thus, closing the gap will automatically lead to a price exit above this MACD line and a signal for growth will be generated. The first target at 0.7320 is the 23.6% Fibonacci level, then 0.7450 is the 38.2% Fibonacci level.
On the four-hour chart, the Marlin Oscillator is attacking the border of the growth territory. When the gap closes, which is only 10 points away, the Marlin will already move into the zone of positive values and strengthen the upward local trend.
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