AUD/USD 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Aussie is currently testing the down-trend of the falling wedge, a breach of which should trigger a buying spree until the exchange rate reaches the November high at 0.7224. Technical indicators are supporting this scenario, but the AUD/USD still risks falling down. Several strong supports are in the AUD's path, namely the 55-hour SMA, also bolstered by the daily PP, and the 200-hour one. Another sign of the possible pattern confirmation will be the moment when the 55-hour SMA crosses the 200-hour one to the downside, which might even occur today. Meanwhile, more than 71% of SWFX traders retain a positive outlook towards the Australian Dollar.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Pre viac informácií o Dukascopy Bank CFD / Forex obchodných platformách a ostatných záležitostiach
nás prosím kontaktujte alebo požiadajte o hovor od nás.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.