Positions | Today | Yesterday | % Change | |
Longs | 40% | 43% | -7.50% | |
Shorts | 60% | 57% | 5.00% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Sell | Sell | Buy | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Sell | Sell | Buy | |
SAR (0.02; 0.2) | Buy | Sell | Buy | |
Aggregate | ⇘ | ⇓ | ⇗ |
Even though the Australian Dollar had taken a direction towards the monthly and weekly S1s during the first half of Monday's trading session, this bearish sentiment changed swiftly early in the morning when the rate surged up to the weekly PP at 0.7796.
As a result, the rate was testing the upper wedge boundary for several hours, but nevertheless failed to surpass the strong resistance of the weekly PP and the 100-hour SMA.
There is still some upside potential that could push the rate towards the 200-hour SMA circa 0.7820. This mark, however, should work as an unbreakable resistance, thus guiding the pair back down to the 0.7770 area.
A possible trading range for the next session could be somewhere between the 200– and 55-hour SMAs.