The AUD/USD pair continues to break all drawn patterns, by the end of Thursday’s trading session, the pair breached the upwards aimed junior channel and dropped back to the dominant channel.
The drop was stopped by the 200—hour simple moving average at 0.8006. The bulls had taken over the movement by the middle of Friday’s trading session.
Meanwhile, in...
The Australian Dollar recently marked another bounce off from the resistance of the 2017 high level against the Swiss Franc. As a result a medium scale channel pattern has formed. The descending channel managed to break through the support of the previously active large scale pattern.
Most recently the Aussie made attempts to regain its losses. However, the...
Last week the Australian Dollar encountered a resistance against the New Zealand Dollar, which caused a decline of the pair. Using that direction changing Fibonacci retracement level for pattern drawing, one can spot the medium term ascending channel pattern.
The pair is expected to decline down to the weekly PP, which is located at the 1.1070 mark. Afterwards it...
