AUD/USD faces 55– and 100-hour SMAs

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 53% 51% 3.77%
Shorts 47% 49% -4.26%
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) Buy Sell Sell
Aggregate

As apparent on the chart, AUD/USD reached the upper boundary of the minor descending channel early on Tuesday. However, in terms of price movements, the Aussie has remained stable against its American counterpart for the second consecutive session. 

Technical indicators flash bearish signals, thus supporting the scenario that the rate tests the bottom boundary of the senior channel. Moreover, it faces the combined resistance of the 100– and 55-hour SMAs circa 0.7680 or the weekly PP and the monthly S1 slightly below the 0.7720 mark. 

On the other hand, the nearest support is set by the distant monthly S2 and the weekly S2 near 0.7590, showing that no barriers until the given area could stop the pair from a plunge.

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