AUD/USD breaches 55-hour SMA after fundamentals

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

Positions Today Yesterday % Change
Longs 53% 48% 9.43%
Shorts 47% 52% -10.64%
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Sell Neutral
Stochastic (5; 3; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The Australian Dollar remained stable during the first part of Thursday. Slight bullish momentum took over the market later in the session, thus allowing for the rate to test the weekly R1 near 0.79. 

This trading session was dominated primarily by bears. The prevailing momentum southwards was strengthened by solid US fundamentals released at 1330GMT. They allowed the Aussie to breach the 55-hour SMA and approach the 100– and 200-hour moving averages circa 0.7850. This area is likewise reinforced by a five-week ascending channel. 

Thus, it is expected that the Australian Dollar reverses near this mark and sees a slight recovery up to the 0.79 mark.

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