EUR/AUD 4H Chart: Channel Down

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

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

Almost all of the various timeframe patterns on the EUR/AUD pair are aimed down. However, there is one exception. That is the most dominant pattern, which has the shape of an ascending channel pattern, and the latest approaching of this pattern has pressured for a review of the pair.

In general the various descending patterns have guided the currency exchange rate down to a zone near the lower trend line of the most dominant channel. Most likely the trend line will be reached soon. Namely, by the end of this week. 

Although, the pair still has to pass the support of the weekly PP at the 1.4906 level. Meanwhile, traders should watch out for the support of the weekly S1 at the 1.4844 level.

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