AUD/USD bears could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs30%29%2.1%
Shorts70%71%-0.9%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)BuyNeutralSell
Alligator(13;8;5)NeutralBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

Downside risks have dominated the Australian Dollar lower against the US Dollar since Friday's trading session. The currency pair has declined by 107 points or 1.48% during this period.

Most likely, bears are likely to continue to pressure the exchange rate lower during the following trading session. The potential target for the AUD/USD pair will be at the 0.7081 level.

A possible upside reversal could occur from a support cluster formed by the weekly pivot point and the weekly S1 near the 0.7076 area within this session.

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