| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇘ | ⇒ | ⇘ |
The common European currency has declined by 2.85% against the Australian Dollar since November 1. The currency pair breached the lower boundary of a descending channel pattern at 1.6149 on November 11.
All things being equal, the exchange rate could continue to edge lower in a descending channel pattern during the following trading sessions. The potential target for bears would be at the 1.6000 level.
However, a support level formed by the weekly S1 at 1.6150 could provide support for the currency exchange rate in the shorter term.