AUD/USD breakout could occur

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs50%56%-11.9%
Shorts50%44%12.0%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)NeutralBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

The Australian Dollar surged by 114 pips or 1.81% against the US Dollar on Thursday. The 200– hour simple moving average provided support for the exchange rate during yesterday's trading session.

Everything being equal, the AUD/USD currency pair could decline within this session. A potential breakout through the lower boundary of an ascending channel pattern could occur.

However, a support level formed by the 200– hour simple moving average could provide support for the currency exchange rate during the following trading session.

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