Note: This section contains information in English only.The Australian Dollar is surging against the US Dollar in an ascending channel pattern. The currency exchange rate is in the middle of the pattern at 0.7657. However, the currency exchange rate is in general oriented on an upward movement, as in every time it moves lower the pair encounters the 55 and 100-hour SMAs, which provide support and rebound the rate. As this general trend continues, the exchange rate will move to the upper trend line at 0.77, which is supported by the weekly R1 at 0.7695. In addition, an upward movement forecast is supported by the fact, that the currency pair might be oversold, as 74.16% of SWFX open positions are short.
Tue, 09 Aug 2016 11:53:00 GMT
Source: Dukascopy Bank SA