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The Australian dollar has successfully consolidated above the 0.6827 level, and the price now has little distance left to reach the target level of 0.6933. Once it surpasses this level, it could reach 0.7014, with further growth possible up to 0.7120.
The Marlin oscillator has slowed its growth but may accelerate along with the price and move into the overbought zone. The weak upward angle of the MACD line determines the challenge for further growth. Likely, the price will not be able to overcome the 0.6933 level on the first attempt.
On the four-hour chart, the angle of the MACD line no longer appears weak, but the price may test this line before bouncing off it to continue its growth with renewed strength. The support level is 0.6827. Marlin has entered the uptrend territory. The cautious growth continues.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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