AUD/USD tries to reach 200-hour SMA

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 41% 40% 2.44%
Shorts 59% 60% -1.69%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

In line with expectations, the Greenback failed to pull the pair below the 0.7813 level. After reaching this minimum point, the currency rate started to move in the opposite direction. At the moment, it is easy to note that both 55- and 100-hour SMAs cannot suppress the surge of the Aussie. A summary of multiple technical indicators supports the further soar of the currency rate via sending clear buy signal for the upcoming hour. 

However, afterwards, it projects a sharp decline, which is, most probably, associated with a combination of the 200-hour SMA and the weekly PP at 0.7895. Taking into account that the pair has already failed once to bypass this resistance level, suggests that the second rebound is a valid scenario. Moreover, such outcome would be in line with the general downtrend.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.