During yesterday’s decline, the euro reached the target range of 1.0449–1.0483 but exited above it by the close of the day. Today, the price is starting with consolidation above the upper boundary of this range, likely with the intent to break through and settle below it.
The Marlin oscillator has begun a confident downward movement after reversing from the boundary of the bullish trend. On the four-hour chart, yesterday’s decline paused at the support of the MACD line.
The price’s heightened sensitivity to this line highlights the importance of the 1.0449 level. When the price approaches this level in a few bars, the MACD line is expected to align with the linear level of 1.0449. A break below this level would open the path to a target at 1.0350.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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