| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Sell |
| RSI (14) | Sell | Sell | Neutral |
| Stochastic (5; 3) | Neutral | Sell | Neutral |
| Alligator (13; 8; 5) | Buy | Buy | Neutral |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇒ | ⇒ |
The common European currency has been trading in a narrow ascending channel pattern against the Australian Dollar. This increase in price range started after the currency pair reversed from the lower boundary of a long-term ascending channel at 1.5400 on December 3.
The EUR/AUD exchange rate breached a resistance level formed by the weekly R2 at 1.6180 during the morning hours of Wednesday's trading session.
Given that the currency exchange rate has breached the resistance level as mentioned above, the next target for bullish traders will be near the upper boundary of the narrow ascending channel at 1.6312 during the following trading sessions.