AUD/USD reaches 50.00% Fibo level

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 66% 58% 12.12%
Shorts 34% 42% -23.53%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Neutral Sell Neutral
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The decline of the Australian Dollar against the US Dollar continues. The currency pair has been trading in several descending channels, the most important of which is a three-month dominant pattern.

During the early hours of Wednesday's trading session, the AUD/USD pair hit the 50.00% Fibonacci retracement level. After reaching the 50.00% Fibo, the rate took a dive south. This retracement can be measured by connecting the low at 0.7644 and the high at 0.7787.

As for near future, the currency exchange rate could continue moving south until it finds the nearest support level at 0.7631.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.