AUD/USD potential upside movement

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

 Positions Today Yesterday Change
 Longs 66% 68% -3.0%
 Shorts 34% 32% 5.9%
       
 Indicator 4H 1D 1W
 MACD(12;26;9) Sell Sell Sell
 RSI(14) Neutral Neutral Neutral
 Stochastic(5;3;3) Sell Neutral Neutral
 Alligator(13;8;5) Neutral Sell Sell
 SAR(0.02;0.2) Buy Sell Buy
 Aggregate

The Australian Dollar appreciated about 44 base points against the US Dollar on Tuesday. The currency pair breached both the 50– and 100-hour SMAs during yesterday's session.

Wednesday's trading session began with an upside movement. And by the middle of the day, the AUD/USD exchange rate has dashed through the monthly pivot point at 0.7105.

Everything being equal, it is likely that the currency exchange rate will edge higher towards the 200-hour simple moving average at 0.7149 today.

Although, a resistance level formed by the weekly PP at 0.7139 could hinder such movement.

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