AUD/USD retracement down is likely

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs60%55%8.1%
Shorts40%45%-12.0%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuySell
Aggregate

The AUD/USD currency pair reached the previously set target at 0.7040 at the end of yesterday's trading session.

As for the near future, the exchange rate is expected to make a retracement towards the 50– hour simple moving average at 0.7012. In addition, the pair could find support near the 50– and 100-hour SMAs.

If the support level holds, the currency exchange rate could continue its upside movement during the following trading session.

However, if the pair passes the support line, a decline towards the bottom border of an ascending channel pattern could be expected.

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