AUD/USD approaches weekly R2

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

Positions Today Yesterday % Change
Longs 34% 35% -2.94%
Shorts 66% 65% 1.52%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

An impulse given by a combination of the 20-, 55- and 100-hour SMAs was strong enough to drive the currency pair to the top without respite. Firstly, the Aussie bypassed the weekly R1 at 0.7677 and now it is approaching the weekly R2 at 0.7748. However, technical indicators suggest that the pair became overbought and, thus, imply on the potential rebound. If this projection is true, then the rate will have to fall, firstly, to the 20-hour SMA and, afterwards, to the above R1, which will be backed up by the 55-hour SMA. In the opposite scenario, the Aussie has a good chance to use the upward momentum to try to climb to the weekly R3 at 0.7801.

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