AUD/USD fails to move past 55-hour SMA

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 40% 35% 12.50%
Shorts 60% 65% -8.33%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

As apparent on the chart, the 55-hour SMA was guiding the Aussie for the whole trading session on Monday, thus leaving the rate slightly above the monthly PP and the 61.8% Fibo late in the evening. 

The rate failed to surpass the 55-hour SMA once again this morning and eventually plunged down to the weekly S1 at 0.7879. As a result, the Australian Dollar breached the bottom channel boundary near 0.7900. The rate might reverse near the weekly S1 or slightly lower and try to re-test the monthly PP or the 55-hour SMA. 

In case no strong market shakers occur today, the rate could remain in the 0.7880/0.7940 range by mid-Wednesday. However, the US is set to release the CB Consumer Confidence at 1400GMT, as well as the Fed Chair Yellen is scheduled to speak later today at 1645GMT.

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