AUD/USD charted after braking of patterns

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 63% 66% -4.76%
Shorts 37% 34% 8.11%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

As it was expected the AUD/USD pair surged eventually up to the 0.7690 level, where it was met by one of the weekly resistance levels. 

However, that level is also serving as a reference point for a larger scale channel up pattern, which is one of the two freshly drawn patterns. One more discovered pattern is the medium term channel up pattern, who has reached the upper trend line of the previously mentioned dominant pattern. 

Due to the fact that the pair has reached and bounced off notable resistance, it can be expected that the rate will decline down to the medium term channel's support. However, the 55-hour SMA is likely going to provide hinder the decline.

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