AUD/USD two scenarios likely

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

 Positions Today Yesterday Change
 Longs 68% 68% 0.0%
 Shorts 32% 32% 0.0%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Neutral Buy Neutral
 Alligator(13;8;5) Sell Sell Sell
 SAR(0.02;0.2) Sell Sell Buy
 Aggregate

Bearish sentiment dominated the Australian Dollar against the US Dollar on Monday. As a result, the currency pair breached the lower boundary of a medium-term ascending channel at 0.7082. 

The 50-hour simple moving average was providing resistance for the exchange rate during the first half of today's trading session. 

If the currency exchange rate passes the 50-hour SMA, the next upside target will be at near the weekly pivot point at 0.7139. 

Although, if the resistance level as mentioned above holds, bearish traders could push the AUD/USD exchange rate towards the 0.7000 mark.

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