AUD/USD finds support near 0.7867

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

Positions Today Yesterday % Change
Longs 39% 37% 5.13%
Shorts 61% 63% -3.28%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

As it was expected, the surge of the Aussie once again was stopped by the 55-hour SMA near 0.7901. After encountering this resistance level the pair could have slipped to the bottom trend-line of a recently formed descending channel, but it failed to break through the weekly S1 at 0.7867. Such outcome points out on existence of a minor descending triangle, which might be broken already by the end of the day. If this assumption is correct, the pair should leave this pattern in the downward direction. That would be in line not only with the technical theory, but also with the market sentiment, which remains 60% bearish. The spike to top is unlikely even with the assistance from the recent US data release, as the northern side is reliably secured by the 55- and 100-hour SMAs.

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