AUD/USD approaches dominant support

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 74% 60% 18.92%
Shorts 26% 40% -53.85%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

As the US Dollar has kept appreciating the AUD/USD is no exception to the phenomenon. On Monday it could be seen that the rate was going down in a junior, narrow descending pattern.  

The pattern was set to guide the rate down to the 0.7620 level, where various support levels are located. Namely, a monthly and a weekly support levels are located at that level together with the lower trend line of a dominant long term pattern.

It was expected that the rate could reach the support level by the middle of Monday's trading session in GMT time zone.

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