| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The common European currency has declined by 2.48% against the Australian Dollar since the beginning of December. The currency pair tested the 1.6000 level during last week's trading sessions.
All things being equal, the exchange rate could continue to edge lower in a descending channel pattern during the following trading sessions. The potential target for bears would be at the 1.5800 level.
However, the weekly support level at 1.5991 could provide support for the EUR/AUD currency exchange rate within this week's sessions.