| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Buy |
| Alligator (13; 8; 5) | Buy | Buy | Buy |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇑ |
The common European currency is surging against the Australian Dollar in an ascending channel pattern. Moreover, the surge seem to be about to continue.
The reason is the fact that after bouncing off from the resistance of the 1.51 mark the currency pair has retreated down to the weekly PP, which is located at the 1.5030 mark. That support might keep the rate horizontal until the lower trend line of the channel up pattern is reached, which would cause a surge.
As a result of such a rebound the pair is likely going to surge up to the upper trend line of a medium term channel pattern. The trend line on Monday was located near the 1.5150 mark, and there were no other resistance levels up to that level.