EUR/AUD 4H Chart: Could continue to edge higher

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)SellBuySell
Aggregate⇗⇗⇘

[ANNOUNCE]The common European currency has surged by 2.05% against the Australian Dollar since July 8. The currency pair tested the upper boundary of an ascending channel pattern at 1.5950 during last week's trading sessions.[/ANNOUNCE]

All things being equal, the exchange rate could continue to edge higher during the following trading sessions. A breakout through the upper line of the channel pattern could occur.

However, if the ascending channel holds, the EUR/AUD currency exchange rate will make a pullback towards the 1.5700 level within this week's trading sessions.

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