Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Sell | Sell |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Sell | Sell | Sell |
Alligator (13; 8; 5) | Buy | Neutral | Sell |
SAR (0.02; 0.2) | Buy | Buy | Sell |
Aggregate | ⇗ | ⇒ | ⇓ |
The Australian Dollar is trading against the US Dollar simultaneously in two ascending channel patterns. However, both of these channels are a part of the currency exchange rates movements inside the borders of a large scale descending channel pattern. All in all, the currency pair is heading for a combined resistance of three patterns near the 0.7530 mark. At the most recent tempo of the rates ascent the mentioned cluster of resistance will be reached by June 8. Although, before that occurs the currency pair needs to break the resistance of the weekly R1, which is located at the 0.7491 level. If that level is broken, the surge is almost a certainty from a technical perspective.