AUD/USD sets for breakout - Technical Analysis - Dukascopy Bank
Fri, 06 Nov 2020 07:39:17 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
48%
59%
-22.6%
Shorts
52%
41%
21.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Sell
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇗
⇒
The Australian Dollar surged by 124 basis points or 1.74% against the US Dollar on Thursday. The currency pair tested the upper line of an ascending channel pattern at 0.7276 during yesterday's trading session.
The exchange rate is currently trading near the upper border of the channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 0.7350 level could be expected within this session.
However, if the ascending channel holds, bearish traders might drive the price lower during the following trading session.
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