Positions | Today | Yesterday | % Change | |
Longs | 54% | 56% | -3.70% | |
Shorts | 46% | 44% | 4.35% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Sell | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Neutral | Sell | |
SAR (0.02; 0.2) | Buy | Buy | Sell | |
Aggregate | ⇗ | ⇒ | ⇓ |
Contrary to expectations, AUD/USD did not halt near the 0.7480 level but continued to appreciate, forming a minor resistance area at the 0.7496 mark. Thus, two scenarios are possible for this trading session. Firstly, the rate may edge lower to confirm the upper boundary of a wedge pattern. Secondly, the Antipodean currency may also continue appreciating, testing a four-week high at 0.7512. Bullish technical indicators favour the latter, mentioning the golden cross of 55-, 100– and 200-hour SMAs as one example. In general, the strong upside momentum that characterised the pair in the morning session has stalled, demonstrating that the price has entered a consolidation phase. Moreover, the rate might also be affected by Australian q/q GDP at 1:30 GMT on Wednesday, providing some short-term fluctuations.