AUD/USD could still edge higher - Technical Analysis - Dukascopy Bank
Thu, 18 Mar 2021 07:34:39 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
61%
62%
-1.3%
Shorts
39%
38%
2.1%
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 110 pips or 1.43% against the US Dollar on Wednesday. The currency pair breached the upper line of an ascending channel pattern at 0.7740 during yesterday's trading session.
Most likely, the exchange rate could continue to edge higher during the following trading session. The potential target for the AUD/USD pair will be near the weekly resistance level at 0.7905.
However, the currency exchange rate might make a brief retracement towards the 50– hour simple moving average at 0.7752 within this session.
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