EUR/AUD 4H Chart: Tests support cluster

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)SellSellSell
Aggregate

The 50-hour simple moving average has guided the common European currency higher against the Australian Dollar during last week's trading sessions. The currency pair tested the upper boundary of an ascending channel pattern at 1.6250 on Thursday.

The exchange rate tested a support cluster formed by the combination of the weekly, the monthly and the 50-hour SMA at 1.6125 during the Asia session on Monday.

If the support cluster holds, the pair will continue its upward swing during the following trading session.

However, if the pair passes the support line, a decline towards the monthly R1 at 1.6018 in the short-term.

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