| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Sell | Neutral | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The Australian Dollar has been appreciating against the common European currency after the exchange rate made a U-turn from a resistance level at 1.6350. This decline has been bounded by a descending channel.
As apparent on the 4(H) chart, the currency pair is currently trading near the upper boundary of a two-week descending channel pattern. From a technical point of view, the pair should break the given channel and surge north towards a resistance cluster formed by the combination of the weekly and the monthly PPs at 1.6290.
However, technical indicators suggest that the expected advance might not occur immediately, as the technical sentiment remains neutral on both the smaller and the larger time frames.