AUD/USD decline could continue - Technical Analysis - Dukascopy Bank
Wed, 07 Oct 2020 07:08:39 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
48%
50%
-5.7%
Shorts
52%
50%
5.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Buy
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇒
⇒
Australia's currency declined by 93 basis points or 1.30% against the US Dollar on Tuesday. The currency pair tested the lower boundary of an ascending channel pattern at 0.7100 during yesterday's trading session.
The exchange rate rebounded from the lower line of the channel pattern on Wednesday morning. Most likely, bullish traders could target the 50- and 100– hour SMAs near the 0.7165 level within this session.
However, technical indicators suggest that the currency exchange rate could continue to edge lower during the following trading session.
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