AUD / USD
On Wednesday, the US dollar index grew by 0.47%, but the Australian dollar lost only 5 points for the day, indicating a strong intention of the "Australian" to grow further. Technically, there are all prerequisites for this.
First of all, the four-hour schedule attracts attention. In here, the price attacks the resistance of the Krusenstern line for the second time while the Marlin indicator points to a rising trend. The first growth target is immediately clear - the Krusenstern line resistance on a daily scale is 0.7172. In case it overcomes, the second goal 0.7255 is opened resistance of the upper border of the price channel.
The preparedness of the daily scale Marlin oscillator signal line to move to the growth zone, which reinforces the trend, and increases the probability of the second goal being fulfilled is also noticeable. Thus, making it the main scenario.
For the development of the scenario of the downward price, it is necessary to overcome the February 12 minimum at 0.7055. However, the price channel line, is already close to it with the target of 0.7030 which is for confident sales. Therefore, it is worth waiting for the price to fix below the level, and then the target will be 0.6914.
The material has been provided by InstaForex Company -
www.instaforex.com