| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Sell | Sell | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The common European currency has surged by 3.89% in value against the Australian Dollar since January 1. A breakout occurred through the upper boundary of an ascending channel pattern at 1.6456 during Friday's trading session.
Given that a breakout had occurred, the EUR/AUD exchange rate will most likely continue to edge higher. The potential target for bullish traders would be near the psychological resistance level at 1.6750.
However, the currency exchange rate is expected to make a brief downside retracement towards the weekly S1 at 1.6314 within this week's trading sessions.