AUD/USD could edge lower

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs74%71%4.0%
Shorts26%29%-11.6%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

The Australian Dollar has depreciated by 51 basis points against the US Dollar since yesterday's trading session. The currency pair breached the 50-, 100– and 200– hour SMAs since the previous session.

Given that the exchange rate has breached the 50-, 100– and 200– hour simple moving averages, bearish traders will most likely continue to dominate the AUD/USD pair within this session.

However, a support cluster formed by the 200– hour SMA and the 61.80% Fibonacci retracement level at 0.6854 could provide support for the currency exchange rate during the following trading session.

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