EUR/AUD 1H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The common European currency is advancing against the Australian Dollar in a recently formed ascending triangle. The upper resistance line is located near the 1.4753 level and consists of four reaction highs, while the lower support line consists from two reaction lows. By the moment, the currency exchange rate is moving to the south towards the combined support level formed by the updated weekly PP at 1.4684 in conjunction with the 100- and 55-hour SMAs. Most probably, the pair be forced to make a rebound. If this scenario materializes, it would be possible to redraw the triangle's bottom trend-line and make it more vertical. This correction will also mean that dissolution of this figure might happen by the end of the day.

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