AUD/USD breakout occurs - Technical Analysis - Dukascopy Bank
Tue, 18 May 2021 06:44:32 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
37%
36%
3.7%
Shorts
63%
64%
-2.2%
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 has surged by 62 pips or 0.80% against the US Dollar since yesterday's trading session. A breakout occurred through the upper boundary of a descending channel pattern on Monday.
Given that a breakout had occurred, buyers are likely to pressure the exchange rate higher during Tuesday's trading session. The possible target for the AUD/USD pair could be near the 0.7860 level.
However, a resistance level at 0.7823 could provide a barrier for bullish traders in the shorter term.
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