AUD/USD falls to weekly S3

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 67% 60% 10.45%
Shorts 33% 40% -21.21%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Buy Neutral
Stochastic (5; 3; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The Australian Dollar was guided entirely by the 55-hour SMA on Thursday. The given line was breached for a brief period of time this morning; however, the 100-hour SMA and the weekly S1 halted any efforts to push the rate higher. As a result, the rate had plunged 38 pips during the first half of Friday down the weekly S3 at 0.7543. 

Despite minor weakness, the US Building Permits did not introduce drastic changes to the pair's positioning. 

By and large, technical indicators are located at or near the strongly bearish area, thus pointing to a possible short-term recovery. If taking into account the newly draw channel, the Aussie could move sideways towards the upper channel line and the 55-hour SMA circa 0.7580. 

On the other hand, a decline would be restricted solely by the distant monthly S2 circa 0.7560.

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