AUD/USD reaches support cluster

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

Positions Today Yesterday % Change
Longs 72% 75% -4.17%
Shorts 28% 25% 10.71%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Neutral Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Buy Neutral Buy
Alligator (13; 8; 5) Buy Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

Despite a brief attempt for the AUD/USD exchange rate to surge yesterday, the currency pair was driven by a downside momentum which resulted for a breakout through the lower boundary of newly formed ascending channel.

This bearish movement encountered a strong support cluster formed by the weekly, the monthly PPs and the combination of the 100– and the 200—hour SMAs near the 0.7515 mark during the middle of Tuesday's session. 

On the four-hour time frame, technical indicators suggest strong buy signals. Therefore, the currency exchange rate is likely to make a U-turn north during the following trading hours. However, it is important to note that the 55– hour simple moving average could provide a barrier for the rate to rally.  

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