| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇗ |
The single European currency has declined by 2.87% against the Australian Dollar since last week's trading sessions. The currency pair was pressured lower by the 50– period simple moving average.
All things being equal, the exchange rate will most likely continue to trade in the descending channel pattern. Bearish traders could target a support cluster at the 1.6515 area.
However, given that the currency exchange rate is currently trading near the upper line of the descending channel pattern, a breakout might occur within this week's trading sessions.