AUD/USD decline insight

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 53% 55% -3.77%
Shorts 47% 45% 4.26%
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) Buy Buy Sell
Aggregate

The Australian Dollar edged lower by over 45 base points against the US Dollar on Tuesday. The currency pair breached both the 50– and 100-hour SMAs during yesterday's trading session.

Everything being equal, it is likely that the AUD/USD exchange rate could depreciate in values with this session. The potential downside targets will be near the 200-hour simple moving average at 0.7164. 

However, technical indicators flash bullish signals. Therefore the currency exchange rate is likely to reverse from a support level formed by the weekly pivot point at 0.7187.

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