AUD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Tue, 16 Mar 2021 07:18:26 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
59%
62%
-4.6%
Shorts
41%
38%
6.8%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇒
⇒
The Australian Dollar declined by 63 pips or 0.81% against the US Dollar on Monday. The currency pair tested the lower boundary of an ascending channel pattern at 0.7726 during yesterday's trading session.
The exchange rate is currently trading near the lower line of the channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the weekly support level at 0.7652 could be expected today.
However, if the ascending channel pattern holds, buyers are likely to pressure the currency exchange rate higher during the following trading session.
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