GBP/AUD continues in pattern

Source: Dukascopy Bank SA


Since the pair was reviewed at the start of July, it has continued to move higher. The 2021 and 2022 high levels held as resistance for some time, before the combined support of the ascending channel's lower trend line and the 50-day simple moving average caused a push to the 2.0000 mark. Most recently, the 2.0000 acted as resistance and caused a downwards retracement.

The ongoing decline of the Pound against the Australian Dollar is expected to look for support in the 1.9500 mark, the 50-day simple moving average near 1.9330, before approaching the lower trend line of the channel up pattern. In the case of the breaking of the pattern, note that the 2021 and 2022 high levels could turn into a support zone at 1.9153/1.9228.

On the other hand, a resumption of the broader surge is set to face resistance in the 2.0000 and 2.0500 levels. In addition, take into account the upper trend line of the channel pattern.
Back to articles

Actual Topics

Wed, 30 Aug 2023 11:58:20 GMT

USD/CHF pierces pattern's resistance

Since the start of July, the USD/CHF declined in the broad channel down pattern as low as 0.8550, before starting a recovery. Most recently, the rate pierced the upper trend line of the channel down pattern, indicating that the major decline might have ended. If the US Dollar continues to gain value against the Swiss Franc and the pattern is

Fri, 25 Aug 2023 10:10:48 GMT

US stocks end surge, but find support

Since the last review of the US top 2000 stock index, the equities continued to surge in the channel up pattern and made three attempts to break above the 2,000.00 mark. However, at the start of August a decline started, which could not be stopped by the combination of the 50-day simple moving average and the lower trend line

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.