AUD/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Examining the channel down pattern formed by AUD/USD for the second time, we may see that the Australian Dollar extended losses versus its U.S. peer, reaching almost a three-month low on November 26; this compares to a five-year peak hit on October 23 when the pair commenced a decline. At the moment of writing, the pattern was 129-bar long and had 66% quality and 100% magnitude. Technical indicators support the idea that the pair will prolong its drop, bearish for short, medium and long terms.
© Dukascopy Bank SA
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