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EUR/AUD 4H Chart: Two scenarios likely

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

[ANNOUNCE]The common European currency has surged by 2.05% against the Australian Dollar since January 20. The currency pair tested the upper line of a descending channel pattern at 1.5931 on February 1.[/ANNOUNCE]

Everything being equal, the exchange rate could continue to trend higher during the following trading sessions. A breakout through the upper boundary of the channel pattern is likely to occur.

However, if the descending channel pattern holds, a decline towards the 1.5600 level could be expected this week.

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