AUD/USD reverses from 0.8020

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 35% 38% -8.57%
Shorts 65% 62% 4.62%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Buy
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

During the last 24 hours, the rate managed to reach the weekly R1 and the upper channel boundary at 0.8020 and fall back down to the 55-hour SMA. Thus, the given time period has not introduced any changes to the price level.  

Reaching a four-week high may pressure the rate southwards. This movement would comply with characteristics of the current channel pattern that is expected to guide the pair towards the 0.7930/0.7900 territory this week. 

However, the Aussie faces a significant support area formed by the 100– and 200-hour SMAs and the weekly and monthly PPs. Thus, it is more likely that the pair trades sideways or edges slightly higher away from the above support.

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