The aussie is trying hard to maintain Friday's upward momentum, so yesterday it closed the day above Friday's open and above the nearest green price channel line. The next action, if the price intends to continue rising, should be the exit above the target level of 0.6360. In this case, the 0.6439 target can be reached. If the price fails to keep the upward trend, it will fall to the price channel line to the 0.6250 mark. Breaking the support opens the next target at 0.6195. The Marlin Oscillator in a neutral situation on the zero line.
The price is turning up in an obvious way on the four-hour chart: it settled above both indicator lines, the Marlin Oscillator received support after yesterday's decline from the zero line, moves up, and the MACD line itself also turns into growth.
There is still interest in risk in the stock market, which is likely to support commodities as well. As a result, the Australian currency may still rise until Thursday, when the European Central Bank will make a decision on monetary policy. Another thing is that the price has no room for growth – the nearest level 0.6360 is too close, and the next level at 0.6439 is obviously too high. The price may choose an intermediate solution - to retest yesterday's high at 0.6412.
