AUD/USD decline likely to continue - Technical Analysis - Dukascopy Bank
Fri, 16 Oct 2020 06:12:51 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
46%
47%
-1.5%
Shorts
54%
53%
1.3%
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)
Sell
Sell
Buy
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇒
The Australian Dollar declined by 79 basis points or 1.10% against the US Dollar on Thursday. The currency pair tested the lower line of a descending channel pattern at 0.7060 during Thursday's trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for bearish traders would be at the 0.7000 area.
However, the weekly support level at 0.7045 could provide support for the currency exchange rate during Friday's trading session.
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