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AUD/USD
The Australian dollar sharply strengthened after yesterday's Federal Reserve meeting – up 100 pips compared to the euro's 80-pip rise. In today's Asian session, the pair continued to rise at an even greater speed, and has already surpassed the target level of 0.6693. With that said, we now expect the uptrend to move forward towards the target levels of 0.6775 and 0.6815 (the average value of the peaks in April and May).
A slight move of the Marlin oscillator's signal line into negative territory (red arrow) is now considered a false move, afterwards we witnessed movement into the overbought territory.
On the 4-hour chart, the price is trying to consolidate above the level of 0.6693. If it successfully manages to consolidate, this would automatically support the pair's rise to 0.6775.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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