Last Friday, the Australian dollar almost reached the entire range of target levels from 0.7227 to 0.7171. By this moment, the signal line of the Marlin Oscillator has reached the zero line – to the border with the bears' territory. Consolidating below the level of 0.7171 opens the target at 0.7065. But a price reversal from the reached level of 0.7171 is also possible. In this case, the Marlin Oscillator will turn up from the zero line and the price will attack the MACD line in the area of 0.7252. This will be the aussie's seventh attempt to overcome the resistance of this line since December 29, 2021.
On the four-hour chart, the price consolidated under both indicator lines – under the balance line (red) and the MACD line. The Marlin Oscillator is in the negative area, but tends to leave it, to grow. Consolidating above the MACD line, above 0.7209, will be an indicator of the price's determination to fight against the resistances of 0.7227 and 0.7252.
