AUD/USD decline likely to continue

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

 Positions Today Yesterday Change
 Longs 72% 74% -2.8%
 Shorts 28% 26% 7.1%
       
 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 Sell Sell
 SAR(0.02;0.2) Buy Sell Buy
 Aggregate

The Australian Dollar remained in a junior descending channel pattern against the US Dollar on Monday. The exchange rate depreciated about 0.42% during Monday's trading session.

As for the near future, it is likely that the junior descending channel will guide the AUD/USD currency pair towards a support level formed by the weekly S1 at 0.7035 within this session.

If the weekly support level holds, the currency exchange rate will make an upside reversal during the following trading session.

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