Yesterday, the Australian dollar worked out the lower limit of the local green price channel on the daily scale chart. Moreover, this line touched the point of intersection with the target linear level of 0.7171 (September 2021 low). Now the price has three options for further development: to go under the level of 0.7171 immediately, with the intention of reaching the target of 0.7065, and then the Marlin Oscillator will also immediately go under the zero line into the downward trend area, which will justify the formation of a reversal divergence, the second option is a rebound from the level of 0.7171 to 0.7227, or slightly higher, to 0.7260 (MACD line on daily) followed by a reversal and breakthrough of 0.7171, and the third option is to cross the area above the MACD line (0.7260) with subsequent growth to 0.7385.
The four-hour chart shows the primary sign of the price's intention to turn up, either in a short-term correction or in the medium-term growth - a reversal of the signal line of the Marlin Oscillator. We are waiting for the development of events.
