AUD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Tue, 06 Oct 2020 06:46:38 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
50%
46%
7.6%
Shorts
50%
54%
-7.6%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Buy
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇒
⇒
The Australian Dollar edged higher by 27 points or 0.37% against the US Dollar on Monday. The surge was stopped by the monthly pivot point at 0.7192 during yesterday's trading session.
Given that the exchange rate has breached the lower line of an ascending channel pattern, bearish traders are likely to target the 200– hour simple moving average at 0.7116 today.
However, a support level formed by the weekly PP at 0.7140 could provide support for the currency exchange rate in the shorter term.
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