AUD/USD
Yesterday, the Australian dollar reached the target level of 0.6612. This morning, it strengthened beyond that level and continued to rise. It can now reach the target of 0.6693. If Marlin does not become overbought when reaching 0.6693, the pair may continue to rise to the second target of 0.6775.
The Australian dollar is rising despite a 0.2% decline in retail sales in the October estimate. In the evening, the U.S. Consumer Confidence Index for November may decrease from 102.6 to 101.0, and the pace of housing cost growth for September is expected to fall to 0.4% MoM, compared to 0.6% MoM in August. Perhaps the Australian dollar will benefit from this data.
On the 4-hour chart, the price is trying to consolidate above the reached resistance. The Marlin oscillator has settled in the bullish territory, attempting to accelerate movement into this area.
Bears can suppress the emerging trend if they manage to push the quote below 0.6569 – below the MACD indicator line. The target will then be 0.6514.
