| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇗ |
The common European currency has declined 2.40% against the Australian Dollar since the end of September. The currency pair tested a three–month low at 1.5783 on October 8.
Currently, the exchange rate is trading near the lower boundary of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a decline towards the 1.5600 level could be expected during the following trading sessions.
However, if the channel pattern holds, the currency exchange rate may target the 200– period SMA at 1.6050 this week.