AUD/USD
Like European currencies, the Australian dollar remained neutral regarding yesterday's ECB meeting, staying within the comfortable range of 0.6627/90. Now, we see two scenarios with equal probability.
The first scenario is a price breakout above the resistance level of 0.6690, followed by reaching the target level of 0.6730, from which a reversal divergence, indicated by a dashed line on the daily chart, will form. The second scenario is a price drop below 0.6627, testing the support of the MACD line around the 0.6575 mark with an attempt to consolidate below it.
On the four-hour scale, the situation is bullish – the price is rising above both indicator lines, and the Marlin oscillator has returned to positive territory. However, we see multiple attempts by the price to drop below the MACD line. Such actions may continue as long as AUD/USD remains within its comfortable range.
