AUD/USD encountered support cluster

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

Positions Today Yesterday % Change
Longs 62% 51% 17.74%
Shorts 38% 49% -28.95%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

The Aussie continues its neat journey in a descending pattern against the Greenback. By the end of Tuesday's trading session, the exchange rate has breached the lower boundary of an ascending channel.

Given that the combination 55-, 100– and the 200– hour simple moving averages have crossed path, this might suggest that the pair is set for a long-term decline. However, a support cluster set by the weekly S1 and the Monthly S1 near 0.7658 was providing support for the currency pair.

If this support cluster holds, a brief retracement north is likely during the following trading session for a re-test of the PP at 0.77199.

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