AUD/USD breakout could occur - Technical Analysis - Dukascopy Bank
Mon, 08 Feb 2021 07:59:17 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
37%
41%
-11.5%
Shorts
63%
59%
6.7%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Sell
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇗
The Australian Dollar surged by 86 pips or 1.13% against the US Dollar on Friday. The currency pair breached the 50-, 100– and 200– hour SMAs during Friday's trading session.
Currently, the exchange rate is trading near the upper line of a descending channel pattern and could be set for a breakout.
If the breakout occurs, bullish traders could target the weekly resistance level at 0.7754 today.
However, if the channel pattern holds, a decline towards the weekly S1 at 0.7599 could be expected today.
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