AUD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Wed, 27 Jan 2021 07:26:43 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
34%
34%
-0.9%
Shorts
66%
66%
0.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇗
⇒
⇗
Australia's Dollar surged by 80 pips or 1.04% against the Greenback on Tuesday. A breakout occurred through the upper boundary of a descending channel pattern at 0.7722 during Tuesday's trading session.
Given that a breakout had occurred, bullish traders are likely to pressure the AUD/USD exchange rate higher during the following trading session. The possible target would be at the weekly R1 at 0.7776.
However, a resistance level at the 0.7760 area could provide resistance for the currency exchange rate within this session.
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