EUR/AUD 4H Chart: Two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇒⇗

[ANNOUNCE]The single European currency has continued to edge higher in an ascending channel pattern against the Australian Dollar. The currency pair tested the 1.9765 mark during last week's trading sessions. [/ANNOUNCE]

The exchange rate is currently trading near the bottom border of an ascending channel pattern at 1.8055 and could be set for a breakout.

If the breakout occurs, a decline towards the 1.6500 area could be expected within this week's trading sessions.

However, if the ascending channel pattern holds, the EUR/AUD currency exchange rate will most likely continue its upward movement during the following trading sessions.

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