AUD/USD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a few noisy periods in the market it seems that the pair has returned to a more or less  normal pace of the development. From the recent  developments it seems that the pair ahs reached its new relative low therefore   pair further appreciation, as suggested by the short term technicals, becomes even more likely. In addition to this, at the moment the market is strongly bullish—70% of open positions are already long on the pair and 58% of pending orders are set to buy the aussie against the greenback.

© Dukascopy Bank SA
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