AUD/USD likely to break channel - Technical Analysis - Dukascopy Bank
Wed, 28 Apr 2021 07:03:50 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
55%
53%
3.3%
Shorts
45%
47%
-3.9%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇗
⇗
⇒
Australia's Dollar fell by 40 pips or 0.50% against the US Dollar on Tuesday. The currency pair tested the bottom border of an ascending channel pattern during the Asian session on Wednesday.
The AUD/USD exchange rate is likely to continue to edge lower during the following trading session. A breakout through the lower boundary of the channel pattern may occur.
However, if the ascending channel holds, bullish traders could drive the currency exchange rate higher towards the 0.7800 level within the following trading session.
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