GBP/AUD 4H Chart: Decline likely to continue - Trade Pattern Ideas - Dukascopy Bank
Tue, 16 Jul 2019 06:10:12 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Sell
RSI(14)
Buy
Buy
Neutral
Stochastic(5;3;3)
Buy
Buy
Buy
Alligator(13;8;5)
Sell
Sell
Sell
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇒
⇒
⇘
The British Pound depreciated about 1.40% in value against the Australian Dollar during last week's trading sessions. The currency pair was pressured south by the 50-hour simple moving average.
Most likely, the exchange rate could continue its southern movement until it reaches a support level at 1.7650.
If the support line holds, a potential upside reversal might occur during the following trading sessions.
Meanwhile, technical indicators demonstrate that the currency exchange rate will continue to edge lower in the short-term.
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