AUD/USD set for breakout - Technical Analysis - Dukascopy Bank
Wed, 21 Oct 2020 08:16:12 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
55%
52%
5.7%
Shorts
45%
48%
-6.8%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Sell
Buy
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇒
⇘
⇒
The Australian Dollar edged higher by 48 basis points or 0.68% against the US Dollar on Tuesday. The currency pair tested the 100– hour SMA resistance level at 0.7076 on Wednesday morning.
Currently, the exchange rate trading near the upper boundary of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards a resistance cluster at 0.7132 could be expected today.
However, if the channel pattern holds, bearish traders might pressure the currency exchange rate lower within this session.
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