AUD/NZD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
An evident downside trend started in the very end of October when AUD/NZD hit almost a two-month high of 1.1581. Throughout the decline the pair formed several bearish patterns and one of them, channel down is progressing at the moment.
Recently, the pair has sagged to more than a five-year low of 1.0495. It managed to recover from this low, albeit slightly and now the pair is faltering between its 50-and 200-hour SMAs. The long-term SMA is meandering above the pair and is likely to mollify the buying pressure stemming from traders' outlook. According to the SWFX data, more than 76% of market players bet on appreciation of the pair.
© Dukascopy Bank SA
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