AUD/USD set for breakout

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs70%71%-0.7%
Shorts30%29%1.7%
Indicator4H1D1W
MACD(12;26;9)SellBuySell
RSI(14)BuyNeutralNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellNeutralSell
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇒⇒

[ANNOUNCE]The decline of the Australian Dollar versus the US Dollar continued during Wednesday's trading session. The currency pair depreciated about 99 base points on Wednesday.[/ANNOUNCE]

The exchange rate is currently trading near the lower boundary of a descending channel pattern at 0.7017 and could be set for a breakout.

If the breakout occurs, the AUD/USD pair will end this week's trading session on a bear market.

However, if the descending channel pattern holds, a surge towards a resistance cluster formed by the50-hour SMA and the weekly S3 at 0.7057 might follow.

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