AUD/USD breakout could occur - Technical Analysis - Dukascopy Bank
Tue, 23 Feb 2021 07:37:52 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
29%
28%
3.3%
Shorts
71%
72%
-1.4%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Sell
Sell
Sell
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇒
⇗
⇗
The Australian Dollar surged by 64 pips or 0.81% against the US Dollar on Monday. The currency pair tested the upper line of an ascending channel pattern at 0.7920 during yesterday's trading session.
Currently, the exchange rate is trading near the upper boundary of the channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 0.8000 level could be expected within this session.
However, if the descending channel pattern holds, sellers might target the weekly pivot point at 0.7822 today.
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