AUD/USD sharply exceeds the Bollinger band

The Australian Dollar's price moves upward at an accelerated pace—in the pair against the U.S. Dollar it appreciates for a fourth straight trading session. Currently the Aussie is just below the monthly R1 level at 1.0567 and is well above the Bollinger band, which is located at 1.0539. Thus, it is very likely that the pair will experience a correction or at least stagnation, as the exchange rate has to come back within the bands' range.

Traders are indifferent for present pair's appreciation and the distribution of long and short orders remains the same as Wednesday. Bears have the vast majority of the market with 73% of all opened positions. Waiting orders segment is heavily bullish, as 71% of orders are waiting to buy the Australian Dollar.