AUD/USD 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
During more three months ended April 10, the Australian Dollar was appreciating against its U.S. counterpart. The pair halted the climb only after a jump to a six-month of 0.9463 high that pushed AUD/USD into a falling wedge pattern.
Recently the currency couple has bounced off a two-week low of 0.9322 and now it is likely to witness a rise. This is bolstered by the SWFX data showing that over 77% of all orders are placed to buy the pair. If these expectations come true, AUD/USD will attempt to target a cluster of resistances at 0.9335/47 (four-hour R1, R2, R3; daily PP) that if overcome will send the instrument to more formidable resistance at 0.9354 (50-hour SMA).
© Dukascopy Bank SA
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