© Dukascopy Bank SA
In the very end of January, AUD/USD plunged to a five-year low of 0.8662 that provoked a sharp appreciation, amid which the bullish tunnel occurred. Now AUD/USD is struggling at the 50-hour SMA at 0.9234, which lies not far away from a five-month high of 0.9301. In the hours to come, the instrument is likely to demonstrate its strength and jump above the short-term SMA as almost 60% of all orders are placed to buy the pair.
© Dukascopy Bank SA