FX.co ★ Reluctantly, the Australian falls

AUD / USD

On Friday, the Australian dollar increased significantly, adding 63 points. This growth seems completely unjustified. OPEC + decided to increase production by 1 million barrels per day. True, the prices for raw materials have slightly increased, but the political situation is unlikely to give any further to this trend. US President Trump announced the development of new sanctions (or rather, tariffs and duties) for the Chinese economy.

On the chart of H4, the price could not gain a foothold over the Kruzenshtern blue line, which could push the price back under the balance sheet. In this case, the output of the Marlin oscillator signal line to the positive zone (marked with an arrow) can be completed. To return the price under the balance sheet and the indicator Marlin in the negative zone (the reduction zone) will take time and effort of the market. This effort can be expressed in a horizontal trend. The price reduction to support the trend line (0.7327) may take three days.