AUD/USD could bounce off support

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs73%72%0.9%
Shorts27%28%-2.4%
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)BuySellSell
Aggregate⇒⇘⇘

[ANNOUNCE]On Wednesday, the Australian Dollar declined by 41 pips or 0.61% in value against the US Dollar. The decline was stopped by the 100– hour simple moving average during yesterday's trading session. [/ANNOUNCE]

As for the near future, the AUD/USD exchange rate could edge higher. A possible breakout through the upper boundary of a descending channel pattern might occur within this session.

However, the weekly resistance level at 0.6742 could still provide resistance for the currency exchange rate on Thursday.

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