AUD/USD driven by bulls

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 38% 36% 5.26%
Shorts 62% 64% -3.23%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

During the last 24-hours, AUD/USD managed to test the upper channel boundary on two occasions and thus reach a new peak in the process. The Aussie dropped in value against the Greenback in the first half of today's session—a move which was followed by a massive selling of the pair due to solid US fundamentals. 

The nearest support is provided by the 200-hour SMA and the weekly PP near the 0.7920 mark. In case of a reversal, the rate is likely to push until the weekly R1 at 0.7972.  

However, better-than-expected US data may determine the pair's direction for the remaining session and push the pair even lower down to the 0.7910/00 area.

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