AUD/USD finds support near 0.7890

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 28% 29% -3.57%
Shorts 72% 71% 1.39%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Sell Buy Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Since the road upstairs did not have any meaningful barriers, while the southern side became protected by a combination of the 20- and 55-hour SMAs, the currency pair made a breakout from a symmetrical triangle to the north. By analogy with the EUR/JPY, the surge of the Aussie has been stopped by a resistance line near the 0.7964 level, on which existence indicate four William's fractals. Similar situation can be observed from the bottom near the 0.7878 mark. An existence of this support level most likely was the reason behind the rate's latest rebound. In general, the pair is expected to move upwards to try to test the above resistance level one more time. But in the short run, it will most probably slide down once against amid the pressure from the 20-, 55- and 100-hour SMAs.

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