AUD/NZD 4H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After encountering the resistance at 1.13 AUD/NZD has been under constant selling pressure, falling 3.15% since Nov 1. According to the technical indicators on the four-hour and weekly charts, the downward momentum is likely to persist in the future.
However, it is worth noticing that at the same time the trading range is decreasing, meaning the pair may be forming a falling wedge—a sign there soon may be a reversal. Still, we must point out the low quality of the pattern because of the white space in November, when AUD/NZD did not confirm the lower trend-line even once.
© Dukascopy Bank SA
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