AUD/USD set for more gains

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 49% 56% -14.29%
Shorts 51% 44% 13.73%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Neutral Sell
Alligator (13; 8; 5) Neutral Neutral Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

As it was expected, the Australian Dollar continued to rally against the US Dollar. By the end of the US trading session on Monday, the pair broke the resistance of the weekly pivot point at the 0.7843 mark.  

However, by the middle of Tuesday's trading session, the Aussie had retreated south to re-test the weekly PP. 

The currency exchange rate is likely to continue trading in the ascending channel during the following trading sessions.

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