AUD/USD consolidates near 0.8020

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 36% 35% 2.78%
Shorts 64% 65% -1.56%
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 Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

Despite reaching the upper boundary of a senior channel on Tuesday, the rate returned to re-test the weekly R1 at 0.8022 for the second time. The price has remained near this channel line for the last two trading sessions; however, the boundary drawn on the chart has not yet been surpassed. 

The failure to reach the monthly R1 at 0.8058 indicates that the junior ascending channel is unlikely to hold any longer and is set to be breached this session. It is expected that the rate tries to test the support area formed by the 55– and 100-hour SMAs circa 0.7990 or even the 200-hour SMA at 0.7960. 

In case upside risks dominate the market after all, next target is the monthly R1.

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