AUD/USD shows signs of decline

Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 75% 73% 2.67%
Shorts 25% 27% -8.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Neutral Neutral
Alligator (13; 8; 5) Neutral Buy Sell
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Contrary to expectations, the AUD/USD currency pair was constrained by bears on Thursday. This strong bearish momentum allowed the exchange rate to breakout through the lower boundary of an ascending channel, and the 55-, 100– and 200– hour SMAs.

It seems that bears could continue to be in play today and might be ready to push the currency exchange rate further south towards two weeks low level near the 0.7529 mark.

If and when this aforementioned scenario occurs, it could encounter strong resistance at 0.75 which is the weekly pivot point.

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