AUD/USD breakout could occur - Technical Analysis - Dukascopy Bank
Mon, 12 Apr 2021 06:46:52 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
59%
58%
2.2%
Shorts
41%
42%
-3.3%
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
Buy
Sell
Aggregate
⇘
⇒
⇒
The Australian Dollar declined by 63 pips or 0.83% against the US Dollar on Friday. The currency pair tested the lower boundary of an ascending channel pattern during Friday's trading session.
Currently, the exchange rate is trading near the bottom border of the channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the 0.7560 area could be expected within this session.
However, if the ascending channel holds, bullish traders might target the weekly R1 at 0.7666 during the following trading sessions.
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