AUD/USD bounces off support - Technical Analysis - Dukascopy Bank
Thu, 03 Dec 2020 06:47:33 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
25%
29%
-14.2%
Shorts
75%
71%
4.8%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Sell
Neutral
Stochastic(5;3;3)
Neutral
Sell
Sell
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇗
Australia's Dollar edged higher by 61 pips or 0.83% against the US Dollar on Wednesday. The currency pair bounced off from the 200– hour simple moving average at 0.7357 during Wednesday's trading session.
Everything being equal, the exchange rate is likely to continue to surge in an ascending channel pattern during the following trading session. The potential target for bullish traders would be at the 0.7400 area.
However, the weekly resistance level at 0.7493 could provide resistance for the AUD/USD currency exchange rate in the shorter term.
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