AUD/USD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Although aussie-greenback cross is a rather volatile pair due to significant noise in the market lately it is much more so in the length of this pattern. However, because of this the pattern has a much higher magnitude (of movements) rating which suggests that there is a high chance on achieving significant returns while trading on momentum when the pattern or key level is breached. Taking in to account readings of technical indicators we can see that there is no catalyst behind the pairs movements and pair should continue developing in the ranks of the pattern. 

© Dukascopy Bank SA
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