| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The common European currency has declined by 320 pips or 2.01% against the Australian Dollar since February 1. The currency pair hit a one-month low at 1.5576 during the Asian session on Monday.
As for the near future, the EUR/AUD exchange rate could continue to edge lower in a descending channel pattern. Bearish traders might target the 1.5400 level during the following trading sessions.
However, a support line at 1.5576 could provide support for the currency exchange rate in the shorter term.