AUD/USD plummets on Monday

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

Positions Today Yesterday % Change
Longs 73% 70% 4.11%
Shorts 27% 30% -11.11%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Buy Neutral Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Sell Buy
Aggregate `

Slight downside momentum was apparent for the AUD/USD currency pair on Monday. The exchange rate was pressured down by the 55-hour simple moving average and as result, a breakout occurred through the lower boundary of a descending pattern.

By the European session on Tuesday, the Australian Dollar was trading in a newly formed narrow channel against the US Dollar. Furthermore, the Aussie is still showing some downside sentiment today.

Bears might target could target a support at 0.7336 set by the monthly pivot point during the following trading session.   

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