EUR/AUD 4H Chart: Decline likely to continue - Trade Pattern Ideas - Dukascopy Bank
Mon, 01 Apr 2019 05:06:04 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Buy
Neutral
Neutral
Stochastic(5;3;3)
Buy
Neutral
Neutral
Alligator(13;8;5)
Sell
Sell
Neutral
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇘
⇒
Downside risks have dominated the single European currency versus the Australian Dollar since last week's trading session. The currency pair lost about 1.40% in value during this time period.
Everything being equal, it is likely that the currency exchange rate will continue its decline in the shorter term. Bears could push the pair towards the lower boundary of a dominant ascending channel at 1.5687.
Although, a support level at 1.5733 could provide support for the EUR/AUD exchange rate during the following trading sessions.
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