AUD/USD 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
As forecasted yesterday, the pattern's resistance of the AUD/USD currency pair managed to push the cross to the south, as it is still strengthened by daily R1 and 200-hour SMA. Therefore, since the beginning on Thursday the pair is  losing value, and we assume it to continue depreciating. Both short and long-term technical indicators are sending bearish signals for the Aussie versus the Buck. However, on its way to the lower trend-line, the pair will face some important supports in face of the weekly S1 and daily S2 around 0.8230, which can give the pair some bullish impetus in order to resume growing. This idea, in turn, is supported by more than 72% of market participants.
© Dukascopy Bank SA
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