| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Sell | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇒ | ⇗ |
The EUR/AUD currency pair has been trading in a descending channel pattern since August 23. The exchange rate tested the 1.5900 level during last week's trading sessions.
Currently, the EUR/AUD exchange rate is trading near the upper line of the descending channel and could be set for a breakout.
If the breakout occurs, a surge towards the 1.6250 area could be expected this week.
However, if the descending channel pattern holds, bearish traders could continue to pressure the currency exchange rate lower during the following trading sessions.