AUD/CHF 1H Chart: Falling Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since early April when AUD/CHF attained a five-month high of 0.8325, the currency couple has been in the down-trend that led to formation of the steadily converging bearish corridor.
At the moment, the pair is vacillating below the short- and long-term SMAs, albeit slightly. In the hours to come, AUD/CHF may attempt to break through its SMAs meandering close to 0.8256 as almost two thirds of market participants bet on appreciation of the pair. Meanwhile, technical signals are neutral for the next one and four hours but send ‘buy' signal for longer period.
© Dukascopy Bank SA
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