AUD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Thu, 12 Nov 2020 07:41:58 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
37%
26%
29.8%
Shorts
63%
74%
-17.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇗
⇒
The Australian Dollar fell by 52 basis points or 0.71% against the US Dollar on Wednesday. The currency pair breached the lower boundary of an ascending channel pattern during the Asian session on Thursday.
Given that a breakout has occurred, the exchange rate could continue to decline during the following trading session. The potential target for bears would be near the 200– hour simple moving average at 0.7209.
However, the weekly support level at 0.7236 could provide support for the AUD/USD currency exchange rate within this session.
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