AUD/USD bounces off 50.00% Fibo

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs72%74%-3.3%
Shorts28%26%8.3%
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuyBuySell
Aggregate

On Monday, the AUD/USD currency pair edged lower by 0.49% in value. The Australian Dollar was pressured south by both the 50-, 100– and 200– hour simple moving averages.

The exchange rate bounced off a support level, formed by the 50.00% Fibonacci retracement level at 0.6754, during the morning hours of Tuesday's trading session. By the middle of the European session, the rate has breached a resistance cluster set by all three SMAs at 0.6778.

By and large, the currency exchange rate might continue its upward momentum within this session. The possible target for bullish traders would be near a swing high at 0.6810.

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