Yesterday, the Australian dollar's first attempt to climb above 0.6730 ended with a sharp fall. But this morning, the Marlin oscillator rose above the zero neutral line and now its leading the price to success.
Consolidating above 0.6730 could take the price to the target level of 0.6873, which, given the somewhat wild nature of the aussie, who often moves ahead of the market, may be an attainable target. We will disregard the growth scenario once the price settles below 0.6640.
The situation on the four-hour chart was quite surprising. The signal line of the Marlin oscillator expectedly came out of the wedge to the downside, but then it turned upward and is now in the growth area. The wedge is abolished.
Now the price should consolidate above 0.6730, and this will be the first signal for the aussie's further growth.
