AUD/USD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Aussie-greenback has reached new low which is the recent bounce from the pattern's support. It adds some weight to the expectation that pair will continue appreciating and move towards the pattern's resistance. In addition, we have the aggregate reading from the short term (4H) technical indicators which point at further appreciation of the pair. Medium term (1D) technicals give negative outlook which suggests that pair is very likely to rebound from the pattern's resistance and thus maintaining pattern's bearish trend. 

© Dukascopy Bank SA
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