AUD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Mon, 16 Nov 2020 08:11:53 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
27%
39%
-47.0%
Shorts
73%
61%
17.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The Australian Dollar surged by 50 points or 0.69% against the US Dollar on Friday. A breakout occurred through the upper boundary of a descending channel pattern during the Asian session on Monday.
Given that a breakout has occurred, the exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders would be near the weekly R1 at 0.7330.
However, a resistance level at 0.7313 could provide a barrier for the AUD/USD currency exchange rate within this session.
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