AUD/USD could break channel pattern - Technical Analysis - Dukascopy Bank
Fri, 07 May 2021 06:19:40 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
55%
56%
-0.4%
Shorts
45%
44%
0.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Buy
Sell
Sell
Aggregate
⇒
⇒
⇒
Upside risks dominated the Australian Dollar versus the US Dollar on Thursday. The AUD/USD currency pair tested the weekly resistance level at 0.7784 during Thursday's trading session.
Currently, the exchange rate is trading near the upper boundary of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 0.7820 level could be expected within this session.
However, if the channel pattern holds, bearish traders could pressure the currency exchange rate lower during the following hours.
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