EUR/AUD 1D Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 1D 1W 1MN
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Buy Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

While examining the highly demanded pair of EUR/AUD Dukascopy analysts noticed that there are no notable strong short term pattern. Instead one should look at the larger scale charts.  

In general the pair has been trading higher and higher while being supported by a strong support line, which has already guided the pair above the 1.51 mark. Meanwhile, in the recent months the pair has scored various high levels. By connecting those levels the resistance line can be observed. 

Combining these two fact together one can see a triangle pattern, where the lower trend line is the more dominant one and set to force a break out to the upside.

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