Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
The Australian dollar has moved through the entire consolidation range of 0.6273 to 0.6351. Consolidating below 0.6273 could potentially lead to a target of 0.6196 (the MACD line). However, given the weakening of the U.S. dollar, this scenario seems unlikely. The decline of the Australian dollar is mainly driven by falling commodity prices; however, if the U.S. dollar continues its sharp and prolonged decline, commodity prices alone may not be enough to pull commodity currencies.
The transition of the Marlin oscillator into the bearish zone suggests a range-bound movement centered around the zero line (illustrated by the gray rectangle). Therefore, under the primary scenario, the price is expected to rebound toward 0.6351.
Importantly, on the four-hour chart, the price has not yet consolidated below the lower boundary of the range. In this situation, Marlin's move into negative territory could be a false signal. A breakout above the MACD line at 0.6296 could push the oscillator into growth territory, paving the way toward the upper boundary of the range.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
