AUD/USD restricted by SMA

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 62% 57% 8.06%
Shorts 38% 43% -13.16%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The Aussie has been confined by a descending channel against the Greenback since late January. The upper boundary of a junior pattern was reached on March 14 and has since been moving along the channel. 

The AUD/USD exchange rate continues trading with low volatility; however, the currency pair has breached the upper boundary of the junior pattern.

Everything being equal, it is expected for the currency exchange rate to remain bearish during the next 24 hours as traders await the US data release schedule for tomorrow.

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