| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Buy | Neutral | Neutral |
| Alligator (13; 8; 5) | Neutral | Buy | Buy |
| SAR (0.02; 0.2) | Sell | Buy | Buy |
| Aggregate | ⇗ | ⇒ | ⇗ |
Following a reversal from the senior channel at 1.58 on April 16, the EUR/AUD exchange rate initiated a new wave up. This movement has been constrained in an ascending channel.
The European common currency peaked near 1.6150 this week, thus reaching a new April high. The positioning of technical indicators suggests that some downward potential might still exist in the market. This fall, however, should not be significant, as the pair is already located near the oversold territory.
The nearest support is set by the weekly and monthly PP and a channel line at 1.5960, while a stronger fall is likely to be limited by the weekly S1 and the senior channel near 1.59. The following week is likely to introduce a change in sentiment, thus allowing bulls to regain some of their lost positions. The 55– and 100-hour SMAs are expected to provide some resistance for the pair before it picks up momentum and tests the 1.6250 area.