AUD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Mon, 26 Oct 2020 07:18:21 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
54%
55%
-2.0%
Shorts
46%
45%
2.3%
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
Sell
Sell
Aggregate
⇒
⇘
⇒
The Australian Dollar has declined by 43 basis points or 0.61% against the US Dollar since Friday's trading session. The AUD/USD currency pair breached the lower boundary of an ascending channel pattern at 0.7118 during the Asian session on Monday.
Given that a breakout has occurred, bearish traders are likely to continue to pressure the exchange rate lower within this session. The potential target for bears would be at the 0.7080 level.
However, a support cluster near the 0.7096 area could provide support for the currency exchange rate in the shorter term.
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