# AUDUSD Descending Channel (Aug 25, 2016) Source: https://www.tradersway.com/resources/market-info/audusd-descending-channel-aug-25-2016/ Language: en Updated: 2016-08-25 Description: Explore AUDUSD Descending Channel (Aug 25, 2016). AUDUSD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. AUDUSD has been trending lower on its 1-hour time frame, moving inside a descending channel formation. Price is trading around the middle, though, still deciding whether to test the resistance at .7625 or support at .7550. The 100 SMA is below the 200 SMA so the path of least resistance is to the downside and the selloff is likely to carry on. In addition, the 200 SMA lines up with the top of the channel, adding to its strength as resistance. The gap between the moving averages seems to be widening as well so bearish pressure is strengthening. Stochastic is heading south so AUDUSD could follow suit. However, once the oscillator reaches the oversold area and turns higher, buyers could try to prop the pair back up. Economic data from Australia came in weaker than expected yesterday, as construction work done sank 3.7% in the second quarter of the year versus the estimated 1.9% slide. On top of that, gold prices have been weaker, weighing on the correlated Aussie as well. As for the US dollar, data from the US economy has also been weaker than expected but this seems to be supporting the safe-haven currency. Apart from that, expectations of hawkish remarks from Fed head Yellen in her Jackson Hole testimony are also allowing the dollar to stay afloat. ![AUDUSD Descending Channel (Aug 25, 2016)] In terms of economic data, the US preliminary GDP reading is up for release on Friday and a small downgrade from 1.2% to 1.1% is eyed. Also due then is the revised UoM consumer sentiment index, which could be upgraded from 90.4 to 90.6. US durable goods orders, flash services PMI, and initial jobless claims are lined up today. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/audusd-descending-channel-aug-25-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/audusd-descending-channel-aug-25-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/audusd-descending-channel-aug-25-2016/", "headline": "AUDUSD Descending Channel (Aug 25, 2016)", "inLanguage": "en", "datePublished": "2016-08-25T05:14:33+00:00", "dateModified": "2016-08-25T05:14:33+00:00", "articleSection": "Market Info", "description": "Explore AUDUSD Descending Channel (Aug 25, 2016). AUDUSD has been. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/audusd-descending-channel-aug-25-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "AUDUSD Descending Channel (Aug 25, 2016)", "item": "https://www.tradersway.com/resources/market-info/audusd-descending-channel-aug-25-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```