AUD/USD plunges down to monthly S1

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

Positions Today Yesterday % Change
Longs 53% 53% 0.00%
Shorts 47% 47% 0.00%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Sell Sell Neutral
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Sell Buy Sell
Aggregate

Following Tuesday's session of non-directional fluctuations between the 55-, 100– and 200-hour SMAs and the weekly PP, the Australian Dollar breached the latter two and edged lower.  

The monthly S1 was reached mid-session when the US released its Preliminary GDP readings. This move sent the pair for a test of the lower boundary of a two-week channel up. 

Given that this area is likewise reinforced by the weekly S1 and technical indicators are located in the strongly bearish territory, the Aussie might go for a minor recovery up to 0.7590. 

Two important fundamentals that could shake the market are scheduled for the following 24 hours, namely, the testimony of the Fed Chair Yellen at 1500GMT and the Australian Private Capital Expenditure for Q3Y17 at 0030GMT early on Thursday.

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