Technical Analysis

AUD/USD faces resistance level at 0.6907
Thu, 12 Sep 2019 08:54:58 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs58%61%-5.7%
Shorts42%39%7.8%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)SellNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)BuyBuySell
Aggregate

The Australian Dollar traded with low volatility against the US Dollar on Wednesday. The AUD/USD currency pair surged about 31 basis points during yesterday's trading session.

As for the near future, the exchange rate might target a resistance level formed by the weekly R1 at 0.6907.

If the resistance level holds, a downside reversal could be expected during the following trading session.

On the contrary, if the currency exchange rate passes the weekly R1, bullish traders would likely to continue their dominance in the market in the nearest future.


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