AUD/USD bears could prevail

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs58%57%2.1%
Shorts42%43%-3.0%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)BuyNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellSell
Aggregate

On Wednesday, the Australian Dollar declined by 85 pips or 1.17% against the US Dollar. The currency pair breached the 0.7180support level during Wednesday's trading session.

Technical indicators suggest selling signals on the 4H, daily and weekly time-frame charts. Most likely, the AUD/USD exchange rate could continue to trend lower within Thursday's trading session.

However, the currency exchange rate might find support at 0.7172 during the following trading session.

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