AUD/USD expected to trade lower

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

Positions Today Yesterday % Change
Longs 31% 33% -6.45%
Shorts 69% 67% 2.90%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Neutral Sell
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

AUD/USD has been confined in a channel up pattern for the last two weeks, providing the second upper confirmation mid-Wednesday. The last wave downwards, however, has failed to reach the lower channel boundary, suggesting that some changes in the pattern may occur. The pair's direction south was halted by the 55-hour SMA that provided strong support until mid-today when the Aussie accelerated to the upside. It might be expected that the pair re-tests the 55-hour SMA, reinforced by the 20-hour SMA and the weekly R1 at 0.7593. A breakout of this level may indicate that the pair is set for the lower channel boundary. On the contrary, upside risks may realise the existing potential until the upper channel line. This level, however, is not expected to be reached in the following 24 hours.

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