Day: April 28, 2013

Long-Term Rectangle on AUD/USD Chart

The Australian dollar has been consolidating since 2011 on its weekly chart. Now a definite and clear rectangle pattern has formed with the first bar positioned back in July 2012. It has multiple touches of both upper and lower borders. The rectangle (or horizontal channel) may turn out to be either a reversal or continuation pattern. Since this one is following a pretty rough sideways trading period, both bearish […]