CurrencyShares Australian Dollar Trust (FXA)
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|It was a first positive week for the CurrencyShares Australian Dollar Trust (FXA). During the week, the FXA climbed 0.17 points, or 0.23%, and closed at 72.75 on Friday, September 18, 2020. FXA was trading at average weekly trading volume. |
Long-term trend: [See FXA long-term trend chart]
A long-term downtrend had started on January 26, 2018 at 81.36 and reached 57.50 on March 18, 2020. FXA lost 23.86 points, or 29.33%, in 111 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See FXA medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 57.50 and reached 73.84 on August 31, 2020. FXA gained -16.34 points, or -28.42%, in 23 weeks. The price is now at the 6.67% retracement level.
Weekly Technical Indicators: [See FXA weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since May 1, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See FXA short-term trend chart]
A short-term uptrend had started on September 8, 2020 at 71.98 and reached 73.21 on September 15, 2020. FXA gained -1.23 points, or -1.71%, in 7 days. The chart has formed a Rising Wedge chart pattern.
Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since September 4, 2020. The distance between MACD and the signal line is low and getting smaller.
A Parabolic SAR (stop and reversal) indicator (73.32) comes close to the price (72.75). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.