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- 5/10/2024 -
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CurrencyShares Australian Dollar Trust (FXA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the CurrencyShares Australian Dollar Trust (FXA). During the week, the FXA gave back -0.04 points, or -0.06%, and closed at 65.42 on Friday, May 10, 2024. Weekly volume was -64% 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. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (62.84) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. FXA may retest the broken resistance line. It is considered to be a support line now. 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 long-term trend.
Medium-term trend: [See FXA medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 62.28 and reached 67.93 on December 28, 2023. FXA gained -5.65 points, or -9.07%, in 12 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (64.82) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 technical indicators are neutral.
The weekly MACD line is below its signal line since February 9, 2024. The distance between MACD and the signal line is low and getting smaller. 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 December 28, 2023 at 67.93 and reached 63.32 on April 16, 2024. FXA lost 4.61 points, or 6.79%, in 110 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (63.12) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. FXA may retest the broken resistance line. It is considered to be a support line now. 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 short-term trend.
 Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since April 24, 2024.
A Parabolic SAR (stop and reversal) indicator (65.11) comes close to the price (65.42). 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.
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