| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Buy | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇘ | ⇗ |
The common European currency has been declining in a descending channel pattern against the Australian Dollar since the middle of March. The currency pair breached the 50-, 100– and 200– hour SMAs during this period.
Currently, the exchange rate is testing a support level formed by the weekly S1 at 1.6905.
If the support level holds, a breakout through the upper boundary of the descending channel pattern could occur within this session.
However, if the currency exchange rate breaks the weekly S1, the EUR/AUD pair would continue to trade in the channel pattern during the following trading sessions.