AUD/CNY Technical Analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
AUD/CNY chart displays a prevailing medium-term downtrend defined by a descending channel, with price currently trading around 4.6631. While price remains below the downward-sloping 20-period SMA (4.6689), confirming short-term bearish pressure the pair recently printed a lower shadow wick that pierced and rebounded from the channel's lower support boundary near 4.60 4.62, signaling buyer absorption at multi-month lows. MACD is beginning to contract in negative territory, suggesting bearish momentum is decelerating and a potential consolidation or relief bounce toward the 20 SMA may be forming, though a sustained bullish reversal would require a confirmed breakout above the descending channel's upper trendline.

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