AUD/USD consolidates after surge

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

Positions Today Yesterday % Change
Longs 54% 57% -5.56%
Shorts 46% 43% 6.52%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Sell
RSI (14) Sell Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

Following a breakout of the short-term ascending wedge, the Australian Dollar surged against its American counterpart and thus managed to reach the 0.7720 mark—a level slightly below the weekly R1. In addition, the pair breached a five-week channel up along the way.

As apparent on the chart, the rate has likewise formed a junior ascending channel. The Aussie could still test its upper boundary and the weekly R1 circa 0.7725 prior to edging lower. The bearish sentiment is supported by converging and southwardly-tended technical indicators. 

Apart from the breached channel line, no support is located until the monthly R1 and the 55-hour SMA at 0.7685.

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