AUD/USD
After sharply falling below the support range of 0.6704/12 on Friday, AUD/USD paused halfway towards the target range of 0.6644/54 on Monday. This morning, the pair is climbing within the range of 0.6704/12. If it surpasses this range, the target will be 0.6755. If the resistance holds, it will return to its initial task of aiming for 0.6644/54.
There is a significant support level at 0.6615 below the target range, indicated by the MACD line. The Marlin oscillator is currently in negative territory, indicating a higher probability of a bearish price movement.
On the four-hour chart, the Marlin oscillator is trying to establish itself in the bullish territory. The price also seems willing to continue rising after consolidating above the range of 0.6704/12. If it succeeds, rising to the target level of 0.6755 would correspond to a 38.2% correction from the decline of June 16-23.
