AUD/USD faces resistance at 0.7207

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 60% 59% 1.67%
Shorts 40% 41% -2.50%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Neutral Neutral
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The 50-hour simple moving average has continued to guide the Australian Dollar lower against the US Dollar. The currency pair depreciated about 48 base points during the end of Monday's session. 

The exchange rate is trading near the upper boundary of a descending channel pattern at 0.7196 during the first half of Tuesday's trading session and could be set for a breakout.

However, the currency exchange rate needs to surpass the 50-hour SMA at 0.7272 before any potential breakout occurs.

If the resistance line formed by the SMA hold, the price will target a swing low of 0.7165 today.

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