EUR/AUD 4H Chart: Breaches support cluster at 1.6177

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

The EUR/AUD currency pair has been trading in an upward swing since the middle of April after it reversed north from the lower boundary of a medium-term ascending channel pattern at 1.5712.

The exchange rate breached a support cluster formed by the 50-hour simple moving average and the weekly pivot point at 1.6177 during Friday's trading session. From a theoretical point of view, it is likely that the currency pair continues moving south.

However, the currency exchange rate has to surpass a support cluster formed by the monthly R2, the weekly S1 and the 100-hour SMA at 1.6116.

If the cluster holds, a reversal north could occur in the nearest further.

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