AUD/USD falls amid disappointing wage data

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 63% 64% -1.59%
Shorts 37% 36% 2.70%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

AUD/USD was stranded between the 55-hour SMA and the weekly S1 on Tuesday.  

The latter, however, surrendered under the bearish pressure at 0030GMT when the Australian Bureau of Statistics reported a wage increase of only 0.5%, compared to the forecast of 0.7%. This caused an immediate bear reaction of 23 pips within the first minute and a 43-pip hourly fall. The bottom boundary of the junior channel was breached along the way, thus requiring a slight adjustment of the given line. 

Meanwhile, the aforementioned plunge was stopped by the weekly S2 at 0.7585 which has already sent the Aussie for a minor recovery. 

Sluggish US fundamentals released mid-session likewise contributed to this upside movement. It is likely that the pair reverses from 0.7620/30 area and pushed back down to 0.7580.

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