AUD/USD moves as expected

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 35% 37% -5.71%
Shorts 65% 63% 3.08%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The Australian Dollar was rebounding against the US Dollar, and the rate was revealing the borders of a short term pattern. However, the situation changed fast when Janet Yellen influenced the rate by giving her speech at Jackson Hole. 

The surge stopped exactly at the previously active medium pattern's resistance line below the 0.7960 mark. During the first half of Monday's trading the resistance still held and the Aussie could not pass higher against the Buck. 

It can be expected that the various hourly SMAs from 0.7910 to 0.7920 level will provide the needed support to enforce the rise of the currency exchange rate.

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