AUD/USD 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/USD failed to settle above a five-month high of 0.9481 reached early April; this initiated a downturn that was in place until the first days of May when the pair embarked on formation of the bullish corridor.
Up to now, AUD/USD has not re-approached the recent high but it may succeed in the following days as a bullish incline of the pattern may give the pair an impetus for a climb. This is supported by the SWFX data showing that almost 72% of market participants bet on appreciation of the instrument.
© Dukascopy Bank SA
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