AUD/NZD 4H Chart: Moving towards the 1.0656 mark - Trade Pattern Ideas - Dukascopy Bank
Mon, 21 Oct 2019 06:14:48 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇗
The AUD/NZD currency pair appreciated by 1.11% in value during last week's trading sessions. The pair tested the upper boundary of a junior descending channel at 1.0795 on October 17.
The exchange rate breached a support cluster formed by the 50-, 100– and 200– hour SMAs at 1.0730 during the morning hours of Monday's trading session.
By and large, the junior descending channel pattern will most likely continue to guide the currency exchange rate lower within this week's trading sessions.
The potential target for bearish traders would be near the weekly S1 at the 1.0656 regions.
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