Positions | Today | Yesterday | % Change | |
Longs | 59% | 61% | -3.39% | |
Shorts | 41% | 39% | 4.88% | |
Indicator | 4H | 1D | 1W | |
MACD (12; 26; 9) | Buy | Sell | Sell | |
RSI (14) | Neutral | Neutral | Neutral | |
Stochastic (5; 3; 3) | Sell | Sell | Sell | |
Alligator (13; 8; 5) | Buy | Neutral | Sell | |
SAR (0.02; 0.2) | Buy | Buy | Sell | |
Aggregate | ⇗ | ⇒ | ⇓ |
AUD/USD has shown low volatility this week, as it has remained in the 0.7683/45 area for the third consecutive session. As apparent on the chart, the Aussie found support/resistance at various levels in between, but none of them was strong enough to push the pair out of this period of consolidation.
The rate has been trading in a channel up for the last two weeks. Its steepness, however, is unlikely to hold for long—a breakout of which might suggest a possible weakening during the remaining trading week. Even if the rate manages to move past the 0.7630 mark, a trend-line near 0.7700 could stop any attempts to edge higher.
On the other hand, in case of a downside breakout, the daily low is expected to be the combined support of the 200-hour SMA, the weekly and monthly PPs circa 0.7610.