AUD/USD lacks volatility on Thursday

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 60% 63% -5.00%
Shorts 40% 37% 7.50%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

Following the massive plunge early on Wednesday, the Aussie has shown little incentive to move away from the 0.7590 territory. It has been fluctuating between the weekly S2 and the 55-hour SMA and has even diminished its trading range within the first half of Thursday. 

If looking at the pair's movement during the past week, it is apparent that the Aussie has failed several times to overcome the 55-hour SMA. Thus, it is likely that the given line continues to put downward pressure on the pair and push it even lower. 

The next support of importance is the monthly S1 at 0.7560. Even if this level does not restrict the pair, it is likely to hinder it for several hours. The ultimate daily low could be the weekly S2 at 0.7540. Conversely, a successful breakout of 0.7515 would sent the pair towards the 100-hour SMA.

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