AUD/USD: bears prevail on Monday

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

Positions Today Yesterday % Change
Longs 35% 31% 11.43%
Shorts 65% 69% -6.15%
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

The upside momentum that guided AUD/USD on Friday morning stalled mid-session, resulting in weak volatility. During the early hours of today, the Aussie plunged against the US Dollar and reached the 100-hour SMA at 0.7586. The currency, however, did recover some ground and returned above the 55-hour SMA. It is likely that the rate depreciates in this trading session, setting the 100-hour SMA as a possible downside limit for the upcoming hours. The nearest support is formed by the lower Bollinger band and the weekly PP at 0.7594. A failure to form a distinctive wave up implies that the ascending channel may not be able to confine the pair any longer. Technical signals on the daily chart suggest that a breakout is more likely to occur to the downside.

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