AUD/USD surges on Wednesday

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 45% 54% -20.00%
Shorts 55% 46% 16.36%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Better-than-expected Australian q/q GDP early in the morning resulted in the Aussie surging 38 pips up to the 0.7539 mark. Thus, the pair was stopped neither by the four-week high at 0.7512 nor the two subsequent resistance levels formed by the weekly R2 and the monthly R1 at 0.7535 and 0.7549, respectively. Momentum indicators show strong trend upwards; however, this motion north may soon become unsustainable and, therefore, result in either a move sideways or a test of the 20-day SMA near 0.7530. By and large, it is expected that the closing price for this session might not exceed the 0.7560 level, supported by 100-day SMA on the daily chart. Some minor fundamentals on the US Dollar are scheduled later today; however, it is unlikely that they will introduce significant changes in the pair's direction.

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