GBP/AUD 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A rise above the 200-bar SMA fostered an on-going upward trend of the pair that was faltering between the pattern's trend-lines that are currently at the levels of 1.7526 and 1.7030. At the moment, GBP/AUD is struggling at its daily support at 1.7314. In case the pair drops below this level, it is likely to meet a bunch of support lines at the levels of 1.7326 and 1.7212 At the same time, market players seem to be bullish on the GBP/AUD as 61.11% of all orders are placed to buy the pair. Four-hour and weekly technical indicators send bullish signals thus supporting the traders' sentiment.
© Dukascopy Bank SA
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Thu, 22 Aug 2013 07:21:06 GMT

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