EUR/AUD 4H Chart: Faces 200– period SMA - Trade Pattern Ideas - Dukascopy Bank
Mon, 23 Sep 2019 05:15:46 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
Sell
Neutral
Alligator(13;8;5)
Buy
Neutral
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇒
⇒
During the past two weeks, the Eurozone single currency has appreciated about 2.11% in value against the Australian Dollar. The currency pair tested the upper boundary of a descending channel pattern at 1.6266 at the end of last week's trading sessions.
Currently, the exchange rate is trading near a resistance level formed by the 200– hour simple moving average at 1.6318.
If the EUR/AUD pair passes the resistance level, as mentioned above, a surge towards the 1.6550 area could be expected within this week's sessions.
However, if the 200-hour SMA holds, bearish traders might drag the price towards the monthly S1 at 1.6024 during the following trading sessions.
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