AUD/USD likely to maintain channel - Technical Analysis - Dukascopy Bank
Fri, 30 Oct 2020 07:37:32 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
53%
55%
-3.4%
Shorts
47%
45%
3.8%
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 approximately 60 pips or 0.80% against the US Dollar on Thursday. The currency pair tested the 0.7000 level during yesterday's trading session.
The exchange rate will most likely continue to trade in a narrow descending channel pattern during the following trading session. Bearish traders might aim at the support cluster at 0.6972.
However, given that the currency exchange rate is currently trading near the upper line of the downtrend channel, a breakout might occur within the following trading session.
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