AUD/USD bears could prevail - Technical Analysis - Dukascopy Bank
Mon, 02 Nov 2020 07:17:13 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
52%
53%
-1.5%
Shorts
48%
47%
1.6%
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)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇒
The Australian Dollar declined by 54 points or 0.76% against the US Dollar on Friday. The currency pair was pressured lower by the 50– hour SMA during Friday's trading session.
All things being equal, the AUD/USD exchange rate could continue to edge lower during the following trading session. The potential target for bearish traders would be near the 0.6950 level.
However, given that the currency exchange rate is currently trading near the upper line of a descending channel pattern, a breakout could occur within the following session.
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