AUD/USD hovers around the Bollinger band

The Aussie executed a huge drop yesterday, as the price decreased from a 1.05 level, breached the 55-day SMA at 1.0355 and was stopped only by the Bollinger band at 1.0327. Today, the price is traded between these two important levels, but it remains volatile, as spikes were done on both sides. A settlement beneath the 55-day SMA might turn to a gradual depreciation along the lower Bollinger band.

Distribution figures of buy and sell positions in SWFX market deliver only a marginal change, as the bullish side gains 1% and currently amounts to 28%. Waiting orders segment is gently bullish, since 56% of orders are long and 44% are sell.