Currency Shares ETFs Technical AnalysisArchive
- 5/19/2023 -
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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 0.06 points, or 0.09%, and closed at 65.85 on Friday, May 19, 2023. Weekly volume was -32% below average. |
Long-term trend: [See FXA long-term trend chart]
A long-term downtrend had started on February 25, 2021 at 79.54 and reached 61.39 on October 14, 2022. FXA lost 18.15 points, or 22.82%, in 85 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See FXA medium-term trend chart]
A medium-term downtrend had started on February 1, 2023 at 70.66 and reached 65.01 on March 10, 2023. FXA lost 5.65 points, or 8.00%, in 5 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (65.47) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
Weekly Technical Indicators: [See FXA weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 3, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 April 26, 2023 at 65.31 and reached 67.30 on May 8, 2023. FXA gained -1.99 points, or -3.05%, in 12 days. The chart has formed a Broadening Ascending Wedge chart pattern.
Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.