GBP/AUD 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Taking into account the facts that GBP/AUD has formed a bullish channel and most of the technical indicators are pointing upwards, the outlook on the pair is positive. The downside should be limited by strong support at 2.0112, while the price should be aiming for the 2009 Jul high at 2.0981. If this level is reached, the next potential objective could already be the 2009 high at 2.2850.
Conversely, if 2.0112 fails to underpin the Sterling, the closest demand area will be at 2.00, formed by the weekly S3 and 200-period SMA. As for the SWFX market participants, most of them hold a bearish view, and 73% of open positions are short.
© Dukascopy Bank SA
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Mon, 29 Jun 2015 07:15:17 GMT

NZD/USD 1D Chart: Channel Down

In addition to the bearish channel on the four-hour chart of NZD/USD reviewed a little earlier today, there is a downward-sloping channel emerging on the daily chart as well. However, this pattern warns of the increasing risks of long-term shorts, even though the daily and monthly technicals show otherwise. The reason is that we are approaching the lower trend-line, and

Mon, 29 Jun 2015 06:51:51 GMT

NZD/USD 4H Chart: Channel Down

NZD/USD still remains in a distinct down-trend after topping out around 0.7750 in April. Accordingly, we consider 0.6562 (2010 low) the multi-week target, but we are likely to get a bullish correction from 0.6725, where the monthly S2 level merges with the lower boundary of the channel.In the meantime, the rallies are to be capped by the monthly S1 at

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