EUR/AUD 4H Chart: Tests 200-period SMA - Trade Pattern Ideas - Dukascopy Bank
Mon, 28 Oct 2019 06:43:22 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Sell
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Sell
Neutral
Buy
SAR(0.02;0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇒
The European single currency has depreciated about 1.07% in value against the Australian Dollar since October 16. The decline was stopped by a support level formed by the 200– period simple moving average at 1.6232 during Friday's trading session.
Most likely, the 200-period SMA could pressure the EUR/AUD currency pair higher within this week's trading sessions. The potential target for bullish traders would be at the 1.6450 area.
However, if the currency exchange rate breaches the 200– period SMA, a breakout through the lower boundary of an ascending channel pattern could be expected in the nearest future.
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