Day: April 8, 2012

AUD/USD Channel Is Going Down on Daily Chart

The Australian dollar is supplying some interesting patterns nowadays. Last week it was H&S on AUD/JPY, today it’s a descending channel on the daily chart of AUD/USD. The currency pair has entered the downward trend in early March, following a consolidation after a rather long-running uptrend. The borders of the presented channel pattern are rather rough and there is a high probability for false breakouts, even when using a 10% buffer zone. Also, […]