AUD/USD new junior channel reveals

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

Positions Today Yesterday % Change
Longs 68% 69% -1.47%
Shorts 32% 31% 3.12%
Indicator 4H 1D 1W
MACD (12; 26; 9) Neutral Buy Neutral
RSI (14) Neutral Neutral Buy
Stochastic (5; 3; 3) Buy Sell Neutral
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The AUD/USD exchange rate has finally revealed a new ascending junior pattern on Friday. The currency pair bounced off the lower boundary of this pattern on  May 2 and is gradually gaining strength.

After hitting the 23.20% Fibonacci retracement level, the Aussie began to decline. However, a support cluster set by the combination of the 55-, and the 100– hour SMAs near the 0.7520 mark was providing support for the rate at the time of this analysis.

A reverse north from the aforementioned support cluster is possible during the following trading session. In the four-hour time frame, technical indicators suggest buying signals.  

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