| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | 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 | ⇘ | ⇒ | ⇒ |
During the past week, the common European currency has depreciated 180 base points against the Australian Dollar. The currency pair was near the bottom border of an ascending channel pattern at 1.6089 during the morning hours of Monday's trading session.
If the support level formed by the lower boundary of the channel pattern holds, a potential upside reversal will occur this week. The upward swing will be near a swing high at 1.6257.
However, if the currency exchange rate breaks the ascending channel pattern, bearish traders could aim for the weekly S2 at 1.5979 in the short-term.