The Australian dollar has shown moderate growth of more than a figure over the past 10 days, but the Marlin oscillator's reluctance to follow this upward move is causing concern among the bulls.
To maintain the main bullish scenario, the price must consolidate above the inner line of the price channel, specifically above the 0.6548 level. This would restore the outlook for growth toward 0.6650.
If the price consolidates below the 0.6444 level, which also means settling below the MACD line, this could initiate a downward trend with a potential target at 0.6262.
The price has approached the MACD line support on the four-hour chart, while the Marlin oscillator has already moved into negative territory. A confirmed settlement of the price below the MACD line, i.e., below 0.6497, will signal an intention to work through the support at 0.6444.
