AUD/USD 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having reached a two-month high of 0.9069 in mid-January, the Australian Dollar plunged sharply versus its U.S. counterpart. Two weeks later, when the currency couple dived to a five-year low of 0.8661, it managed to halt its losing streak and change direction to the north. Whilst advancing, the pair formed a channel up pattern that now is 155-bar long.
Currently the pair seems to have recovered previous losses and is trading at a one-month high of 0.9069. Despite generally bullish tendency, the pair is expected to retreat before long as 64.74% of market participants bet on depreciation of the instrument.
© Dukascopy Bank SA
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