| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Buy |
| RSI (14) | Buy | Neutral | Sell |
| Stochastic (5; 3) | Sell | Sell | Buy |
| Alligator (13; 8; 5) | Sell | Buy | Buy |
| SAR (0.02; 0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇒ |
The common European currency has been trading in an eight-month ascending channel against the Australian Dollar after it hit the lower boundary of a dominant channel.
After reaching the 50.00% Fibonacci retracement level, the Euro began to surge, however, the 200-hour simple moving average was pressuring the currency pair further south. This retracement can be measured by connecting the January low at 1.5264 and the March 7 high at 1.5980.
Everything being equal, the currency exchange rate is likely to decline further as technical indicators favour bears to continue their dominance.