AUD/USD
On Friday, the Australian dollar formed a candle with a high upper shadow and a small white body. The fact that it closed the day below the resistance level of 0.6627 indicates weakness and an impending reversal. However, the price's consolidation above the MACD line on the daily time frame suggests that it is prepared to rise further.
The signal line of the Marlin oscillator, slightly turning, increases the chances of the price settling below the MACD line, which will set the conditions for a downward reversal towards 0.6480. In order to rise further, the price needs to close Monday with a white candle, and the target will be 0.6693.
On the 4-hour chart, the price is already attempting to consolidate below the level of 0.6627. Here, the Marlin oscillator is already following a downward trend. The signal level for the bearish breakout is at 0.6598 – the peak on February 22. A breakthrough will make it possible for traders to launch a strong attack on the MACD line around 0.6560.
