The Australian dollar settled above the target level of 0.7500 in the daily candle, and now it is consolidating above this level. The 0.7600 growth target is open for bulls, but the Marlin Oscillator is not turning up. The situation becomes critical, it is hardly possible to determine how long the price will hold without the support of the oscillator, divergences can last for weeks (rarely), but if the price does not stay above 0.7500 now, it will most likely fall to the 0.7415/30 area. The main scenario assumes growth to the target level of 0.7600.
On the four-hour chart, the price is already struggling with the support of 0.7500, below it is the MACD line. Going under the MACD line, below 0.7484, will be a signal for further advancement to the target range of 0.7415/30. The Marlin Oscillator is in the negative area, so the whole situation is in the hands of the price itself.
A price move into this range will be seen as corrective from all gains since March 15th, and only consolidating below it on the daily timeframe will open a deeper target at 0.7315.
