AUD/USD breakout could occur - Technical Analysis - Dukascopy Bank

Mon, 18 Jan 2021 07:30:43 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs33%30%10.4%
Shorts67%70%-5.2%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)NeutralNeutralSell
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

The Australian Dollar fell by 84 basis points or 1.08% against the US Dollar on Friday. The currency pair breached the 50-, 100– and 200– hour SMAs during Friday's trading session.

Everything being equal, the AUD/USD exchange rate could continue to decline during the following trading session.

Given that the pair is currently trading near the lower line of an ascending channel pattern, a breakout could occur today.

However, if the channel pattern holds, bullish traders could pressure the currency exchange rate higher during the following trading session.


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