AUD/USD upside risk prevails

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

Positions Today Yesterday % Change
Longs 56% 50% 10.71%
Shorts 44% 50% -13.64%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy 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 Sell
Aggregate

Upside and downside risks dominated the market on Friday as the AUD/USD currency pair fluctuated between 0.7414 and 0.7362. However, a breakout from this trading range had occurred.

The exchange rate has been constrained by a junior ascending channel since the beginning of the month. In the meantime, a support cluster formed by the combination of the 100– and 200-hour SMAs was providing support for the pair near the 0.7414 mark.

Everything being equal, it is likely that the currency exchange rate could continue moving in the uptrend line during the following trading sessions.   

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