EUR/AUD 4H Chart: Potential upside reversal

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralBuyNeutral
Stochastic(5;3;3)NeutralBuyBuy
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇒⇑

[ANNOUNCE]The Eurozone single currency has depreciated about 0.91% in value against the Australian Dollar since last week's trading sessions. The currency pair reached eleven weeks low on July 19.[/ANNOUNCE]

Everything being equal, it is likely that the exchange rate could make an upside reversal from a support cluster formed by the combination of the weekly and the monthly PPs at 1.5863 during the following trading sessions.

Furthermore, technical indicators flash strong buy signals on the weekly time-frame chart. Therefore, bulls are likely to come into play this week.

Actual Topics