On the daily chart, the EUR/AUD pair is moving sideways in the upper half of the price channel and above the MACD indicator line. The signal line of the Marlin oscillator is slightly declining within positive territory, creating internal tension with the potential for an upward release.
A breakout from the price channel could occur around the 1.8086 mark. However, the 1.8144 level — the high from April 10 — is already nearby. A breakout above this level would pave the way for further growth into the 1.8446–1.8554 range, formed by the peaks of April 9 and 11.
On the four-hour chart, both price and the Marlin oscillator are undergoing consolidation. Notably, the oscillator is consolidating along the zero line, indicating an impending upward move. This morning, the price rebounded from the MACD line, possibly marking the beginning of a strong upward surge. Considering today’s upcoming U.S. employment data release, these signals gain additional justification.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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