| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇑ | ⇒ |
The common European currency has surged by 2.86% against the Australian Dollar since October 13. The currency pair tested the upper boundary of an ascending channel pattern at 1.6797 on October 20.
Technical indicators flash buying signals on the daily time-frame chart. Most likely, bulls are likely to pressure the exchange rate higher within this week's trading sessions.
However, if the EUR/AUD pair breaks a support cluster at 1.6594, bearish traders could push the currency exchange rate lower towards the weekly S1 at 1.6455 in the shorter term.