| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The single European currency has declined by 2.48% against the Australian Dollar since the beginning of January. The currency pair tested the lower line of a descending channel pattern at 1.5600 during last week's trading sessions.
All things being equal, the EUR/AUD exchange rate could continue to edge lower during the following trading sessions. A breakout through the lower boundary of the channel pattern could occur.
However, if the descending channel pattern holds, bullish traders could attempt to pressure the currency exchange rate higher towards the 1.6000 level within this week's trading sessions.