| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇗ | ⇘ | ⇘ |
The common European currency has been declining in narrow descending channel pattern against the Australian Dollar since the middle of June. The currency pair has declined by 1.51% during the past two weeks.
All things being equal, the EUR/AUD exchange rate could continue to trade in the narrow descending channel pattern within this week's trading sessions. Bears could target the weekly S2 at 1.6122.
However, technical indicators suggest that the currency exchange rate will most likely edge higher in the shorter term.