AUD/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having approached more than a half-year high, AUD/USD has become a subject to a bearish pressure that prevented any upside moves. In the very beginning of November, the pair attempted to recover but after a slight gain the pair started even sharper decline, forming a channel down pattern. At the moment of writing, the currency pair is vacillating close to the upper limit of the pattern but is not expected to breach this level as market players believe selling pressure is too heavy to be overcome. More than 56% of traders are betting on further depreciation of the pair.
© Dukascopy Bank SA
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