AUD/USD breakout could occur - Technical Analysis - Dukascopy Bank
Mon, 17 May 2021 07:15:48 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
36%
37%
-5.5%
Shorts
64%
63%
3.1%
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
Neutral
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇒
⇒
⇗
The Australian Dollar surged by 79 pips or 0.91% against the US Dollar on Friday. The currency pair tested the upper line of a descending channel pattern at 0.7784 during the Asian session on Monday.
Currently, the exchange rate is trading near the upper boundary of the channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the 0.7840 level could be expected within this session.
However, if the descending channel pattern holds, sellers may pressure the currency exchange rate lower today.
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