AUD/USD breakout could occur - Technical Analysis - Dukascopy Bank
Mon, 18 Jan 2021 07:30:43 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
33%
30%
10.4%
Shorts
67%
70%
-5.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Neutral
Sell
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
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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