AUD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Mon, 10 May 2021 06:48:59 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
53%
55%
-3.9%
Shorts
47%
45%
4.5%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Sell
Sell
Neutral
Stochastic(5;3;3)
Sell
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇒
⇒
⇒
The Australian Dollar surged by 99 pips or 1.27% against the US Dollar on Friday. A breakout occurred through the upper boundary of an ascending channel pattern during Friday's trading session.
Given that a breakout has occurred, buyers are likely to continue to pressure the exchange rate higher during this session. The potential target for bullish traders could be near the weekly R1 at 0.7910.
However, a resistance line at 0.7860 could provide resistance for the currency exchange rate in the shorter term.
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