AUD/USD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A very long, 336-bar long, channel up pattern formed by AUD/USD seems to have finally come to an end. The currency pair has recently tumbled below the lower boundary of the tunnel as well as below the 200-bar SMA that has been meandering just beneath the pattern's support at 0.9247 for more than a month. This suggests us that a sharp depreciation is looming. Nevertheless, market players did not lose faith in the instrument after the drop and almost 55% of them still expect AUD/USD to recover its losses in the foreseeable future.
© Dukascopy Bank SA
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