© Dukascopy Bank SA
Currently the instrument is moving in the northern direction and is likely to preserve this trend in the hours to come given the SWFX sentiment – more than 72% of market players hold long positions. To confirm prolong the winning streak, AUD/USD will have to overcome such hurdles as 0.9422 (four-hour R1) and 0.8434/45 (daily PP; 50-hour SMA; four-hour R2, R3), above which only 0.9456 (daily R1) may prevent the currency couple from confirming the pattern's upper limit for the third time.
© Dukascopy Bank SA