AUD/USD likely to maintain channel

Positions Today Yesterday Change
Longs 50% 45% 8.8%
Shorts 50% 55% -8.6%
Indicator 4H 1D 1W
MACD(12;26;9) Sell Buy Sell
RSI(14) Neutral Neutral Neutral
Stochastic(5;3;3) Neutral Neutral Sell
Alligator(13;8;5) Sell Buy Sell
SAR(0.02;0.2) Buy Sell Buy
Aggregate

The Australian Dollar appreciated by about 48 basis points against the US Dollar on Thursday. The currency pair tested a psychological resistance level at the 0.6910 area during yesterday’s trading session.

Everything being equal, the AUD/USD exchange rate will likely maintain a junior descending channel pattern within this session. Bearish traders could target the 0.6850 region.

Furthermore, technical signals support the currency exchange rate to continue its decline in the nearest future.

      

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