AUD/USD could edge up - Technical Analysis - Dukascopy Bank
Wed, 17 Mar 2021 08:34:47 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
62%
59%
3.7%
Shorts
38%
41%
-6.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Neutral
Sell
Buy
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇗
⇘
⇒
The Australian Dollar surged by 41 pips or 0.54% against the US Dollar on Tuesday. The surge was stopped by the 50– hour simple moving average during yesterday's trading session.
Everything being equal, the exchange rate could continue to edge higher during the following trading session. A potential breakout through the upper line of a descending channel pattern could occur.
However, if the channel pattern holds, bearish traders are likely to continue to pressure the currency exchange rate lower in a descending channel pattern during the following trading session.
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