AUD/USD bears could prevail - Technical Analysis - Dukascopy Bank
Tue, 02 Feb 2021 07:20:01 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
35%
35%
0.9%
Shorts
65%
65%
-0.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Neutral
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇒
⇗
The Australian Dollar edged lower by 45 pips or 0.58% against the US Dollar on Monday. The currency pair was pressured lower by the 50– hour simple moving average during yesterday's trading session.
Technical indicators suggest selling signals on the 4– hour time frame chart. The exchange rate will most likely continue to decline during the following trading session. A breakout through the lower boundary of a descending channel pattern could occur.
However, if the channel pattern holds, the currency exchange rate could make a brief pullback towards the weekly PP at 0.7665 today.
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