EUR/AUD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Euro is in an ascending channel pattern against the Australian Dollar, as the currency exchange rate is on its way to the pattern's lower trend line. The pattern's support line is located at the moment at 1.4770, and it is supported by two additional support levels, as the weekly pivot point and the 100-hour SMAs are located respectively at 1.4763 and 1.4757. However, the pair was struggling first with the 55-hour SMA at 1.4810 by 10:00 GMT. Moreover, the Swiss Foreign Exchange market sentiment is 65% short on the pair, which is close to oversold and indicates at a possible surge.
© Dukascopy Bank SA
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