AUD/USD two scenarios likely - Technical Analysis - Dukascopy Bank
Wed, 12 May 2021 07:13:26 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
35%
31%
9.4%
Shorts
65%
69%
-5.0%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇗
⇒
Since Tuesday's trading session, the Australian Dollar has declined by 69 pips or 0.88% against the US Dollar. The currency pair tested the lower boundary of an ascending channel pattern at 0.7786 during the Asian session on Wednesday.
If the channel pattern holds, buyers are likely to pressure the exchange rate higher within this session. The potential target for bullish traders could be near the weekly resistance level at 0.7910.
However, if the currency exchange rate breaks the ascending channel pattern, a decline towards the weekly S1 at 0.7723 could be expected today.
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