AUD/USD guided by SMAs

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 59% 58% 1.69%
Shorts 41% 42% -2.44%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The Australian Dollar has started to gain strength against the US Dollar after the pair touched the lower boundary a channel up.  The pair breached both the monthly PP and the 200– hour SMA near 0.7793 during the close of yesterday's session.

The exchange rate was guided up by the simple moving averages. A support cluster set by the 55– and 100—hour SMAs was providing support near 0.7760.

The currency pair is moving closer to the upper border of the junior pattern. Technical indicators suggest that the AUD/USD pair is likely to continue its rally during this trading session.  

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