AUD/USD bulls likely to prevail - Technical Analysis - Dukascopy Bank
Wed, 16 Dec 2020 08:05:49 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
27%
28%
-3.3%
Shorts
73%
72%
1.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Sell
Sell
Stochastic(5;3;3)
Neutral
Sell
Sell
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇒
The Australian Dollar surged by 60 basis points or 0.81% against the US Dollar on Tuesday. The 100– hour simple moving average pressured the currency pair higher during yesterday's trading session.
All things being equal, the exchange rate is likely to continue to edge up during the following trading session. The possible target for bullish traders would be near the 0.7640 area.
However, the weekly R1 at 0.7610 could provide resistance for the AUD/USD currency exchange rate within this session.
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