The Australian dollar, like some other currencies (Canadian and New Zealand dollars), still remains with the window open on Monday. The price has once again violated the resistance of the upper limit of the price channel, the updated channel has become even wider. We would like to expect a downward reversal of the price, but there is no reversal sign on the Marlin oscillator on the working four-hour chart. The price can once again go up, update yesterday’s high, and then formed a full price divergence with the oscillator.
The market does not always turn on technical divergences, especially since it is almost formed on the daily scale, so the price may abandon the intention to once again expand the price corridor. We follow the development of the situation and eventually wait for the price around 0.7278.
The material has been provided by InstaForex Company – www.instaforex.com
AUD/USD
The Australian dollar, like some other currencies (Canadian and New Zealand dollars), still remains with the window open on Monday. The price has once again violated the resistance of the upper limit of the price channel, the updated channel has become even wider. We would like to expect a downward reversal of the price, but there is no reversal sign on the Marlin oscillator on the working four-hour chart. The price can once again go up, update yesterday’s high, and then formed a full price divergence with the oscillator.
The market does not always turn on technical divergences, especially since it is almost formed on the daily scale, so the price may abandon the intention to once again expand the price corridor. We follow the development of the situation and eventually wait for the price around 0.7278.
The material has been provided by InstaForex Company – www.instaforex.com
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