AUD/USD remains stable

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 32% 33% -3.13%
Shorts 68% 67% 1.47%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Neutral Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The 0.8050 mark proved to be strong resistance for AUD/USD on Tuesday, as the failure to move past this level resulted in a short-term movement sideways. Thus, being stranded between the aforementioned level and the 200-hour SMA restricted any attempts to break out of the narrow range. 

From theoretical point of view, the Aussie should have fallen after breaching the bottom channel boundary; however, this scenario was not realised. This suggests that bulls are still trying to push the rate back up. This assumption is reinforced by technical indicators that are bullish on 4H, 1D and 1W time-frames. 

In case the rate manages to dash through the 55-hour SMA and the 38.2% Fibo at 0.8030, losses should be limited by the 200-hour SMA near 0.8010.

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