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Advanced TA SearchArchive
- 4/19/2024 -
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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 -0.39 points, or -0.61%, and closed at 63.57 on Friday, April 19, 2024. Weekly volume was -37% 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 trend support level is at 62.78 and resistance is at 65.10. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern 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 support line (64.57) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. FXA may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See FXA weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly 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 February 9, 2024. The distance between MACD and the signal line is low, but getting bigger. 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 March 8, 2024 at 65.78 and reached 63.32 on April 16, 2024. FXA lost 2.46 points, or 3.74%, in 39 days. The price is now at the 10.16% retracement level.
 Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down.
A Parabolic SAR (stop and reversal) indicator (64) comes close to the price (63.57). 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.
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.
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