EUR/AUD two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellBuySell
Aggregate⇘⇒⇘

[ANNOUNCE]Since October 13, the common European currency has declined by 1.69% against the Australian Dollar. The 50– period simple moving average pressured the currency pair lower during last week's trading sessions.[/ANNOUNCE]

Currently, the exchange rate is trading near the lower boundary of a descending channel pattern and could be set for a breakout.

If the breakout occurs, a decline towards the 1.5200 level could be expected during the following trading sessions.

However, if the channel pattern holds, the currency exchange rate might make a brief retracement towards the 1.5750 area this week.

Actual Topics