AUD/USD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pattern itself captures whole recovery of the pair after a 11 day depreciation from 0.923 to 0.889. Due to the rather steep slope if the pattern, especially it's support, the pattern ahs a very high magnitude rating which predicts significant gains in short periods of time. At the same time, pattern's quality indicates that pair is not keen for erratic and spurious behaviour and the pair moves in the pattern rather well. Short term technicals do not give clear directional indications. Medium term technicals, however, suggest that the pair will maintain its bullish trend, but due to the long term Stochastic we thing that the eventual breakout should be bearish.

© Dukascopy Bank SA
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