AUD/SGD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Although in October of 2013 the 200-period SMA proved to be a reliable support and helped a bullish correction, eventually it gave in to the currency pair's general downward trend. Since then AUD/SGD has been fluctuating between two falling lines, thereby forming a bearish channel. Accordingly, the bias towards the Aussie is negative, especially considering that the price has recently bounced off the upper boundary of the figure. The rate is therefore expected to reach the lower down-trend line at 1.0850, while at the same it should stay below the resistance at 1.1285, created by the weekly R1 and the long-term moving average.

© Dukascopy Bank SA
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Tue, 28 Jan 2014 12:13:03 GMT

GBP/AUD 4H Chart: Channel Up

Although a week ago it seemed that GBP/AUD is going to breach the 200-period SMA, in the end the support managed to withstand the attack and rekindle demand for the Sterling. Right now the currency pair is testing the lower edge of the channel at 1.8761, which is likely to prevent any additional losses brought by the bearish retracement and

Tue, 28 Jan 2014 07:02:21 GMT

AUD/CHF 4H Chart: Channel Down

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