Indicator | 1H | 4H | 1D |
MACD (12; 26; 9) | Buy | Sell | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Buy | Sell | Neutral |
Alligator (13; 8; 5) | Buy | Sell | Buy |
SAR (0.02; 0.2) | Buy | Buy | Sell |
Aggregate | ⇒ | ⇘ | ⇒ |
AUD/USD was trading in an intermediate ascending wedge valid since early May. The gradual fall of the last wave was disrupted by a sudden plunge on July 4 that resulted in the rate breaching the bottom wedge boundary. Subsequently, the pair has resumed to trade lower, forming a pattern similar to ascending triangle. The Aussie failed to overcome the 0.7577 mark, being stopped by the first pitchfork parallel. Technical indicators flash mixed signals; however, it is likely that the Antipodean currency continues to appreciate against the Greenback until the 100– or 200-hour SMAs prior to trading lower and returning near the aforementioned pitchfork parallel. In case the price remains to be sticky to this parallel, it may finally breach it and continue its downfall.