AUD/USD test monthly S1

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Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 64% 62% 3.13%
Shorts 36% 38% -5.56%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Neutral Buy
SAR (0.02; 0.2) Sell Sell Buy
Aggregate ⇓ ⇘ ⇗

[ANNOUNCE]The Australian Dollar edged lower on Tuesday. This depreciation was stopped by the monthly S1 near the 0.7855 area, which provided temporary pressure for the rate head back north. [/ANNOUNCE]

The exchange rate developed a new downward trend and this might indicate that the AUD/USD is set for a long-term decline. 

Technical indicators suggest that the overall movement during the following 24 hours should be bearish. However, given that technical sentiment is located in the oversold territory, a correction south is likely.

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