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22.09.2023 06:03 AMAUD/USD:
Yesterday, the Australian dollar edged down amid a broad weakness of counter-currencies. The lower shadow of the daily candlestick tested the target support at 0.6388. The Marlin oscillator remained in positive territory, indicating an uptrend.
Now, we can expect the currency to rise towards the target level of 0.6490. If the price stays below 0.6388, it could open the way to the target at 0.6295. On the 4-hour chart, the price is trying to rise above the balance and MACD indicator lines, but it won't be easy, as the Marlin is in negative territory.
The first and closest sign that AUD/USD is ready to rise further would be when the price settles above the MACD line and the nearest peak at 0.6432.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
