AUD/USD rises 136 pips since Thursday morning

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 34% 36% -5.88%
Shorts 66% 64% 3.03%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Sell Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Contrary to expectations, the Aussie accelerated against the US Dollar on Thursday, thus breaching a medium-term channel and confirming the formation of a steeper junior channel up. The rate rose 136 pips within one trading session and halted at the 0.8120 mark. 

While testing the monthly R1 at 0.8058, the Aussie indicated a slight exhaustion of bulls; however, the 33-pip hourly surge resulted in a breakout of this level and the weekly R2. Generally, such steep periods of appreciation are followed by a pull-back, as already apparent from the last few declining candles. 

The base scenario favours a retracement back to the upper line of the senior channel near 0.8040 where the 55-hour SMA and the bottom boundary of the junior channel are located.

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