AUD/USD continues to decline

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 36% 37% -2.78%
Shorts 64% 63% 1.56%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Sell Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

After passing the rather strong support against the US Dollar, the Australian Dollar has continued to decline in the last 24 hours. The pair has reached below the 0.7750 mark during the middle of Friday's trading. 

Due to that reason a review of the charts was done, which revealed that the pair is in a rather long term, large scale channel down pattern.  

Meanwhile, if one looks at the chart, it can be seen that there are no notable support levels until the monthly S1, which is located at the 0.7716 level. Most likely the rate will reach that level and rebound against it, if the pair simultaneously touches the support of the mentioned descending pattern.

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