AUD/NZD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having touched a three-week low, the pair started its impetuous advance, balancing between two upward-sloping trend-lines. On August 22, the pair reached its on-month high at 1.1541 (pattern's resistance), but after a stab to this mark, AUD/NZD retreated slightly and now is trading near the daily resistance at 1.1526. If the pair breaches this mark it may rush to the next bunch of resistances at 1.1562/6186, that, if broken, will give the pair a strong impulse to appreciate apace. Technical indicators are also sending bullish signals; however, market players are not that optimistic, as almost 52% of traders hold short positions in AUD/NZD.
© Dukascopy Bank SA
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