AUD/USD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Last month the rally of AUD/USD  was halted at 0.9080. Since then the Australian Dollar has been generally depreciating relative to its U.S. counterpart, even the long-term moving average was unable to help the currency pair to preserve the upward momentum. At the moment, however, the Aussie is on the rise. Still, the recovery is likely to come to an end in the nearest future, possibly at 0.90, where the daily R2 level merges with the down-trend resistance line, as it is considered to be a bullish correction rather than a change in the overall trend. Still, there is a notable difference between the bulls and bears in the market, with the former being in distinct majority—63%.
© Dukascopy Bank SA
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Wed, 05 Mar 2014 12:54:59 GMT

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Wed, 05 Mar 2014 08:20:22 GMT

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