AUD/USD breaches SMAs

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 56% 53% 5.36%
Shorts 44% 47% -6.82%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The Australian Dollar depreciated about 59 base points against the US Dollar on Monday. The decline was temporary stopped by the weekly PP at 0.7279 during the end of Yesterday's session.

However, Tuesday's trading session begins with a bearish momentum and by the middle of the day, the exchange rate has moved closer to the lower boundary of an ascending channel at 0.7253.

Everything being equal, it is likely that the AUD/USD currency exchange rate continues its downward momentum within this session and potentially target the weekly S1 at 0.7220.

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