AUD/USD 1H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/USD showed a major dive over the last couple of months, but managed to recover and almost return to levels of before it broke a flattish ascending channel in November 2016. The pair is now, however, showing signs of weakness again with a double top formation on the hourly chart. The top lies at 0.7693, while the neck-line is located at 0.7640 and is the current ultimate target of the short-term downward motion. The neckline is strengthened by a green Ichimoku cloud and could cause some consolidation before it is broken.
© Dukascopy Bank SA
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