AUD/USD potential reversal

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Positions Today Yesterday % Change
Longs 69% 70% -1.45%
Shorts 31% 30% 3.23%
Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3; 3) Neutral Buy Neutral
Alligator (13; 8; 5) Sell Neutral Sell
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The Australian Dollar has depreciated about 70 base points against the US Dollar since Monday's session. The currency pair breached the lower boundary of a one-week descending channel at 0.7183 during the first part of today's session.

Given that the AUD/USD currency pair has broken the one-week descending channel, the exchange rate will continue its bearish sentiment within this session and aim at a support level formed by the monthly S2 at 0.7136.

From a technical point of view, the currency exchange rate could reverse from that support level and aim for the resistance level formed by the upper boundary of a descending channel pattern at 0.7183.

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