AUD/USD takes a breath among SMAs

The Australian Dollar sharply appreciated yesterday, as the price exceeded the upper Bollinger band by 40 pips and reached the 200-day SMA for a moment. Today the price consolidates and is traded just beneath the monthly R1 level at 1.0388. Since the pair fluctuates among the major SMAs, a settlement on one of the sides would indicate a strong trade signal.

Bulls increased their positions by 3% and the buy side reached 28%, but still heavily falls behind the bearish sentiments. Pending orders market adjusts to current market conditions and increases bullish orders' share to 63%.