AUD/USD bullish run could continue - Technical Analysis - Dukascopy Bank

Mon, 22 Feb 2021 08:11:03 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs28%37%-30.7%
Shorts72%63%12.0%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)SellSellSell
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

Upside risks dominated the Australian Dollar against the US Dollar on Friday. As a result, the AUD/USD currency surged by 110 pips or 1.42% during Friday's trading session.

All things being equal, the exchange rate is likely to continue to trend bullish during the following trading session. A breakout through the upper line of an ascending channel pattern could occur.

However, the currency exchange rate might make a brief retracement towards the weekly pivot point at 0.7822 before making the upside move.


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