AUD/USD appreciates for third consecutive day

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


"AUD/USD holding just 3 pips below resistance at 7386/90 on Thursday keeps the pressure on for a retest of 7330 and perhaps as far as strong 16 month trend line support at 7295/85."
— Jason Sen (based on Investing.com)


Pair's outlook

On Thursday, the Aussie ended its second consecutive day with gains, confirming the validity of the downward-sloping channel. It could be expected that in the short-term period, AUD/USD continues its upward momentum until the upper channel boundary circa 0.7440. Currently, the pair is demonstrating strong volatility that resulted from sluggish fundamentals from the US. It should be expected that this momentum slows down, thus trading below the monthly S1. The price target for today might be set towards the 0.7390/0.400 area. Trend indicators are slowly decreasing their bearish outlook; however, more reliable indications are needed to confirm that the pair is changing its direction.

Traders' sentiment

There are 59% of traders holding long positions. However, 62% of pending orders are to sell the Aussie.


Sentiment Today Yesterday 5 days ago
Positions 18% 24% 4%
Orders -24% 30% 22%
Indicator 1D 1W 1MN
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
ADX (14) Sell Neutral Neutral
CCI (14) Neutral Buy Neutral
AROON (14) Buy Buy Buy
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Buy
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