AUD/USD squeezed on Tuesday

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 39% 41% -5.13%
Shorts 61% 59% 3.28%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

The Aussie was driven by downside risks on Monday which were guiding AUD/USD towards the weekly PP at 0.7844. This resulted in a 40-pip intraday fall of the rate's value. 

The given bearish sentiment allayed on Tuesday, as the rate failed to accumulate strength and push through the narrow range of the 55– and 100-hour SMAs; this area, however should not hold for long. 

Technical indicators suggest that bulls might prevail, thus leading the Aussie towards the 38.2% Fibonacci retracement once again. 

Conversely, the 55-hour SMA has previously worked effectively at restricting the pair; thus, a breakout south should not be discarded. The downside target could be either the 200-hour SMA or the weekly S1 at 0.7800 and 0.7790, respectively.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.