The Australian Dollar is trading against the American Dollar in the medium-term descending channel. The channel has formed in the begging of March, when the rate bounced off from the upper trend-line of the short-term ascending channel. Fluctuations of the pair in the recent weeks showed that it has formed an ascending triangle with the upper horizontal trend-line located at the 0.7425 level. Accordingly, the break out is expected in the upward direction, where the currency rate should face a resistance from the upper trend-line of the descending channel and continue movement within its boundaries.
| Level | Rationale |
Indicator |
4H | 1D | 1W | |||
| R4 | 0.7477 | Weekly R2 | Buy | Sell | Sell | |||
| R3 | 0.7455 | 100-period SMA | RSI (14) | Neutral | Neutral | Neutral | ||
| R2 | 0.7433 | Weekly R1 | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 0.7425 | Trend-line | ADX (14) | Neutral | Sell | Neutral | ||
| S1 | 0.7381 | Weekly PP | CCI (14) | Sell | Neutral | Buy | ||
| S2 | 0.7360 | Up-trend | AROON (14) | Buy | Buy | Buy | ||
| S3 | 0.7345 | Bollinger band | Alligator (13; 8; 5) | Buy | Sell | Sell | ||
| S4 | 0.7337 | Weekly S1 | SAR (0.02; 0.2) | Buy | Buy | Sell | ||
| Aggregate | ↗ | ↘ | ↘ |