AUD/NZD 4H Chart: Weekly buy signals - Trade Pattern Ideas - Dukascopy Bank

Tue, 18 Sep 2018 06:36:03 GMT
Source: Dukascopy Bank SA
 

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Buy
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The AUD/NZD currency pair has been moving in a descending channel during the past one month. During this period, the exchange rate tested the lower boundary of a dominant ascending channel. 

Presently, the rate is trading near the bottom border of the dominant channel pattern and could be set for a breakout.

Technical indicators favour bullish signals on the weekly time-frame, therefore, a reversal from the border as mentioned above at 1.0900 could be a possibility during the following trading sessions. Bullish traders could push the rate towards the 200-hour SMA at 1.0967 within this week.


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