AUD/USD enters into channel

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 31% 29% 6.45%
Shorts 69% 71% -2.90%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Buy Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

This trading session was marked by the Greenback's breakout to the downside through the monthly S1 at 0.7552. Such outcome led to the formation of a descending channel. It is expected that the currency rate may continue falling. Firstly, is has no substantial support levels down to the weekly S2 at 0.7480 that it could use as a trampoline to make a U-turn. Secondly, it has been experiencing combined pressure from the top formed by the 20-, 55- and 200-hour SMAs. Thirdly, there will be no more fundamental data today that could squeeze the pair out of the channel. Finally, the above S1 might now transform into a resistance level and serve as an additional barrier, which would preclude the rate from a surge.

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