AUD/USD fails to overcome 55-hour SMA

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 37% 37% 0.00%
Shorts 63% 63% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Sell
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

As apparent on the chart, no massive changes have occurred to the AUD/USD exchange rate during the past 24 hours. The pair bounced off the 55-hour SMA once again and, as a result, was pushed down to the lower channel boundary at 0.7790. 

The Aussie has since reversed to the upside in an attempt to re-test the 55-hour SMA—a strong resistance barrier limiting the given currency for the past four days—once again. 

As the rate has failed to edge higher for some time now, this could pressure the Aussie to fall even lower. Nevertheless, it is expected that this resistance area could be finally breached to allow for a test of the upper channel boundary circa 0.7840. 

This pattern might even surrender under the pressure of bulls; thus, the pair could test the weekly PP at 0.7872.

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