AUD/USD 4H Chart: Channel Down

We can observe increased volatility in most of the aussie denominated pairs. This, as in this case as well, lets us to believe that pattern's breach is likely to be swift and traders could trade on the momentum. Short term technicals point at further appreciation of the pair which coincides well with the fact that 70% of all open positions on the pair is long at the moment. However, medium term technicals point at depreciation of the pair, suggesting that the pair will remain in the pattern's boundaries maintaining general bearish trend.