AUD/USD new ascending channel spotted

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

Positions Today Yesterday % Change
Longs 62% 68% -9.68%
Shorts 38% 32% 15.79%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

Bearish sentiment dominated the AUD/USD currency pair on Friday. However, a new junior ascending channel has been spotted. The pair tested the lower boundary of the junior pattern during the Asian session on Monday.

By the middle of the European trading session on Monday, the exchange rate has breached both the 55– and 100– hour simple moving averages and was gradually moving north for a test of the weekly pivot point at 0.7694. 

Technical indicators flash strong bearish signals. This might suggest that the currency exchange rate could drop lower during the following trading day until it breaches the bottom border of the junior channel.

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