AUD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Wed, 14 Oct 2020 07:33:07 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
45%
45%
-0.5%
Shorts
55%
55%
0.4%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Neutral
Sell
Buy
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇘
⇒
⇒
The Australian Dollar declined by 45 pips or 0.63% against the US Dollar on Tuesday. The currency pair tested the lower boundary of an ascending channel pattern at 0.7153 during Tuesday's trading session.
Currently, the exchange rate is trading near the bottom border of the channel pattern at 0.7166 and could be set for a breakout.
If this breakout occurs, a decline towards the 0.7100 level could be expected within the following trading session.
However, if the ascending channel pattern holds, bullish traders are likely to pressure the AUD/USD pair higher today.
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