AUD/USD two scenarios likely - Technical Analysis - Dukascopy Bank

Thu, 13 Aug 2020 07:16:07 GMT
Source: Dukascopy Bank SA
 
PositionsTodayYesterdayChange
Longs37%34%7.0%
Shorts63%66%-4.1%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)BuyBuyBuy
Aggregate

The AUD/USD currency pair bounced off the lower boundary of an ascending channel pattern on Wednesday. The exchange rate surged by 58 pips or 0.82% during Wednesday's trading session.

Currently, the Aussie is testing the upper line of a junior descending channel at 0.7169. If the channel pattern holds, a decline towards the 0.7120 could be expected within this session.

However, if the currency exchange rate breaks the descending channel pattern, bullish traders could target the 0.7220 today.


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