GBP/AUD 4H Chart: Bounces off support - Trade Pattern Ideas - Dukascopy Bank

Tue, 12 Nov 2019 06:26:34 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

The British Pound bounced off the 200– period simple moving average against the Australian Dollar on November 7. As a result, the currency pair has appreciated about 1.38% in value.

By and large, the 200– period SMA will most likely continue to guide the exchange rate higher within this week's trading sessions. The potential target will be at the upper boundary of an ascending channel pattern at 1.9222.

If the resistance level, formed by the upper border of the ascending channel pattern holds, a downside reversal could occur during the following trading sessions.


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