| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The Australian Dollar has been trading within the descending channel pattern against the British Pound since the beginning of May. The currency pair depreciated about 310 pips during last week's trading sessions.
As apparent on the 4(H) chart, the exchange rate reversed south from the upper border of the descending channel pattern at 1.8400 on June 23.
Given that the GBP/AUD pair has made a U-turn from the lower descending channel boundary at 1.7850, the rate could aim for a resistance cluster formed by the 200-hour SMA and the monthly PP at 1.8213 in the nearest future.
However, the 50-hour simple moving average at 1.7995 could provide resistance for the currency exchange rate in the short term.