GBP/AUD 4H Chart: Testing 50– and 100-hour SMAs - Trade Pattern Ideas - Dukascopy Bank
Mon, 14 Jan 2019 07:43:26 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Sell
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Sell
Neutral
Neutral
Alligator (13; 8; 5)
Neutral
Neutral
Sell
SAR (0.02; 0.2)
Buy
Sell
Buy
Aggregate
⇘
⇒
⇒
The Pound Sterling has depreciated about 1.74% against the Australian Dollar since January 7. However, a support level formed by the weekly S1 at 1.7629 hindered the currency pair from further depreciation.
Currently, the exchange rate is testing a resistance cluster formed by the combination of the 50– and 100-hour SMAs at 1.7908.
If this cluster holds, the currency exchange rate will aim for the lower boundary of an ascending channel pattern at 1.7600 today.
However, if the pair passes the SMAs, the next target for bullish traders during the following trading sessions will be at the upper boundary of the channel pattern at 1.8295.
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