The Australian dollar is taking the lead after markets collapsed yesterday due to the disappointing U.S. retail sales report - December sales were down 1.1%. And a divergence with the Marlin oscillator has formed on the aussie's daily chart.
The price has already crossed the support level of 0.6917 and the signal line of the oscillator is about to move into negative territory. The nearest target is 0.6800. In case the price crosses 0.6730 and the MACD line, the decline will develop in the medium term.
On the four-hour chart, the price settled under the MACD line, Marlin forcefully penetrated into the territory of the downtrend. The aussie's in a downtrend.
Relevance up to 03:00 2023-01-20 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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