The common European currency continues to trade against the Australian Dollar in the medium term ascending channel. For the moment, the currency exchange rate is trading slightly above the 61.8% Fibonacci retracement level at 1.5104, which serves as a strong support level that is backed up by the weekly PP at 1.5108. If the pair fails to pass through this barrier, fluctuations of the rate will continue to narrow, which, in turn, will lead to formation of the rising wedge. If the opposite scenario comes true, then the rate will face no significant barriers until the combined support set by the 100-period SMA at 1.4990 and weekly S1 at 1.4988.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1.5287 | Weekly R1 | MACD (12; 26; 9) | Sell | Sell | Sell | ||
| R3 | 1.5269 | Upper Bollinger Band | RSI (14) | Neutral | Sell | Sell | ||
| R2 | 1.5230 | Trend line | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 1.5144 | 20-period SMA | ADX (14) | Neutral | Buy | Neutral | ||
| S1 | 1.5104 | 61.8% Fibo | CCI (14) | Buy | Sell | Sell | ||
| S2 | 1.5054 | 55-period SMA | AROON (14) | Buy | Buy | Buy | ||
| S3 | 1.5020 | Bottom Bollinger Band | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 1.4990/88 | 100-period SMA; Weekly S1 | SAR (0.02; 0.2) | Sell | Buy | Buy | ||
| Aggregate | → | → | → |