The Australian dollar is leading gains in the market, adding 90 points yesterday. It is preparing to reach the target level of 0.6810, it might even surpass this level and make a mark near the MACD line, around 0.6830.
There's a possibility of surpassing this line and climbing to the target level of 0.6873 (January 19 low). If it consolidates above 0.6873, AUD could reach the target of 0.6970 – the low of January 28, 2022. An extreme scenario.
On the four-hour chart, the price is rising significantly, but there are no signs of a reversal. AUD can reach the 0.6810 level and consolidate below it to gather strength for a much higher breakthrough.
