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The Australian dollar has broken above the 0.6394–0.6444 range. The signal line of the Marlin oscillator reversed upward before reaching the boundary of the bearish zone. Considering possible fluctuations, allowing the oscillator to test that boundary is reasonable. The price now confidently targets the key range of 0.6640/95.
On the H4 chart, the price has secured positions above the 0.6444 level, as well as the balance and MACD indicator lines. The Marlin oscillator is in a strong bullish position. We are monitoring the development of this upward trend.
An alternative scenario may unfold if the price consolidates below the 0.6444 level. In that case, the price may attempt to test the 0.6394 mark again, aiming to consolidate below it.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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