AUD/USD consolidates below 0.70

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs55%46%15.6%
Shorts45%54%-19.1%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)NeutralBuySell
SAR(0.02;0.2)BuyBuySell
Aggregate⇒⇗⇘

[ANNOUNCE]During the last 24 hours, the Australian Dollar versus the US Dollar has made about 37 pips movement. The currency pair consolidated below a psychological resistance level at 0.70 during the first half of Wednesday's trading session.[/ANNOUNCE]

If the exchange rate passes the psychological resistance level, a surge towards the 0.7040 mark could be expected within this session.

However, if the level as mentioned earlier holds, a potential breakout through the lower boundary of an ascending channel pattern could occur. 

Technical indicators flash buy signals on the daily time-frame chart. Most likely, the currency exchange rate could continue its upside movement today.

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