AUD/USD breakout could occur - Technical Analysis - Dukascopy Bank

Fri, 26 Feb 2021 07:54:42 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs35%26%25.5%
Shorts65%74%-13.4%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)BuyNeutralSell
Alligator(13;8;5)NeutralBuyBuy
SAR(0.02;0.2)SellBuyBuy
Aggregate

The Australian Dollar has declined by 195 pips or 2.44% against the US Dollar since yesterday's trading session. The currency pair tested the lower boundary of an ascending channel pattern during the Asian session on Friday.

Everything being equal, the exchange rate could continue to edge lower during the following trading session. A breakout through the lower boundary of an ascending channel pattern could occur.

However, if the channel pattern holds, bullish traders could pressure the currency exchange rate higher towards the 50– hour simple moving average at 0.7020 within this session.


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