AUD/USD likely to make brief retracement

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs70%72%-2.6%
Shorts30%28%6.1%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyNeutralNeutral
SAR(0.02;0.2)SellSellBuy
Aggregate

The Australian Dollar made a 22-pip movement against the US Dollar during yesterday's trading session. The currency pair tested the 50– and 200– hour SMAs at 0.6901 on Tuesday.

All things being equal, the AUD/USD exchange rate could make a brief retracement down towards the 0.6860 area within this session.

However, given that the currency exchange rate is currently trading near the upper boundary of a descending channel pattern, a breakout could occur within the following trading session.

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