© Dukascopy Bank SA
Since the beginning of the summer, the pair has been trapped not only by the triangle's trend-lines but also by its short-and long-term SMAs. Currently, USD/AUD is located slightly above the 50-bar SMA at 0.9261 that acts as a strong support zone. However, this support may fail to prevent the pair from depreciation as almost 64% of market participants on the SWFX expect the U.S. Dollar to lose some value against its Australian counterpart in the foreseeable future.
© Dukascopy Bank SA