AUD/USD supported by SMA

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 73% 72% 1.37%
Shorts 27% 28% -3.70%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Wednesday's session was spent in a relatively calm manner for the AUD/USD currency pair, as the rate remained bouncing between the weekly pivot point and the 100– hour simple moving average.

The 55– hour simple moving average has directed the currency pair up and as a result, the pair has managed to breached the upper boundary of a descending channel and the monthly PP.

As for near future, it is likely that the currency exchange rate continues to maintain the ascending channel until a breakout occurs. Meanwhile, technical indicators flash a bullish signal.  

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