The Australian dollar rose 111 pips on Tuesday. The price is falling this morning, which updated the double divergence. It has not yet reached the target level of 0.6917, and there could be two reasons why: the level was not correctly defined at the time, the price reversed from the nearest level at 0.6894, the September 2019 high.
A confirmation of the reversal is when the price returns below 0.6799. In this case, the 0.6730 target and further at 0.6642 will become available.
The alternative scenario assumes that the price will settle above 0.6894-0.6917 and it will continue to rise to 0.7048 - the August 1 high.
On the four-hour chart, the price is in the upward position, it is above the indicator lines, the Marlin is in the growth area. The main momentum will be set by the results of today's Federal Reserve meeting.
