GBP/AUD 4H Chart: Breaches 50-hour SMA - Trade Pattern Ideas - Dukascopy Bank
Tue, 11 Jun 2019 05:43:41 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Buy
Sell
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇗
The Pound Sterling has been gradually gaining strength against the Australian Dollar. The currency pair gained about 0.77% in value during last week's trading sessions.
The exchange rate tested the upper boundary of a narrow descending channel pattern at 1.8226 during Monday's trading session.
If the resistance level formed by the upper border of the channel pattern holds, the pair will continue its downward swing during this week's trading session.
However, if a breakout occurs, a surge towards a resistance cluster formed by the 200-hour SMA and the combination of the weekly and monthly PPs at 1.8426 could be the next target for the currency exchange rate.
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