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Archive
- 11/8/2024 -
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CurrencyShares Australian Dollar Trust (FXA) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was a first positive week after 5 consecutive negative weeks for the CurrencyShares Australian Dollar Trust (FXA). During the week, the FXA climbed 0.29 points, or 0.45%, and closed at 65.18 on Friday, November 8, 2024. It was the best weekly gain since September 27, 2024. Weekly volume was -11% below average.
 Long-term trend: [See FXA long-term trend chart]
A long-term uptrend had started on October 3, 2023 at 62.28 and reached 68.78 on September 30, 2024. FXA gained -6.50 points, or -10.44%, in 51 weeks. The price is now at the 55.38% retracement level.
 Medium-term trend: [See FXA medium-term trend chart]
A medium-term uptrend had started on April 16, 2024 at 63.32 and reached 68.78 on September 30, 2024. FXA gained -5.46 points, or -8.62%, in 23 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 64.59 and resistance is at 69.59. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See FXA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 18, 2024. Use the following link to access a MACD help.
 Short-term trend: [See FXA short-term trend chart]
A short-term downtrend had started on September 30, 2024 at 68.78 and reached 64.89 on October 31, 2024. FXA lost 3.89 points, or 5.66%, in 31 days. The price is now at the 7.46% retracement level.
Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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