AUD/USD potential target at 0.7589 - Technical Analysis - Dukascopy Bank
Tue, 09 Mar 2021 07:44:48 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
60%
57%
6.0%
Shorts
40%
43%
-9.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇘
⇗
The AUD/USD currency pair reversed from a resistance cluster formed by the weekly pivot point and the 50– hour SMA at 0.7713 on Monday. As a result, the Aussie fell by 70 pips or 0.91% against the Greenback during Monday's trading session.
All things being equal, the exchange rate could continue to edge lower in a descending channel pattern. Sellers are likely to target the weekly support level at 0.7589 within this session.
A possible upside reversal could occur from the weekly S1 at 0.7589 during the following trading session.
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