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AUD/USD
The Australian dollar has breached the resistance level of 0.6690 for the third time, and it is quickly approaching the support at 0.6627. If it manages to break below this support, the price could further fall towards the MACD line around 0.6570.
The signal line of the Marlin oscillator has approached the upper boundary of its own descending channel and now it appears to be turning towards the lower boundary.
The price is steadily declining on the 4-hour chart, but lacks confidence due to the support of the balance line.
Overall, the price has entered a range of free movement between 0.6627 and 0.6690, and we can confirm its direction when the price moves below the MACD line, coinciding with the lower boundary of the range at 0.6627. The Marlin oscillator also shows instability.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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