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The Australian dollar's attempts to rise on Monday and Tuesday towards the target level of 0.6133 were halted (as indicated by long upper shadows), but the pair is still pursuing this goal today.
The level of 0.5943 also acts as strong support, and the Marlin oscillator has turned into a corrective phase. We expect a successful attempt to reach the 0.6133 level. The price and oscillator have formed a broken bullish divergence on the four-hour chart.
By the time the price approaches 0.6133, the MACD line will strongly reinforce this level. At that point, a correction or a breakout and consolidation above resistance are possible. In the event of a breakout, the next battle will unfold around the daily MACD line at 0.6173.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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