AUD/USD likely to maintain channel

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs56%56%1.0%
Shorts44%44%-1.3%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellSellNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuySell
Aggregate

The Australian Dollar has been appreciating gradually against the US Dollar since July 10. The currency pair bounced off from the bottom border of a narrow ascending channel at 0.6911 on July 10 and had since gained about 1.83% in value during the short period.

Most likely, the AUD/USD exchange rate will maintain the narrow ascending channel pattern today.

The currency exchange rate might aim for a swing high at 0.7046 within this session, and thereafter, makes a brief retracement during the following trading session.

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