AUD/CHF 1H Chart: Bulls could prevail

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)NeutralNeutralBuy
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)SellBuySell
Aggregate

The AUD/CHF currency pair has been declining since the end of February when it failed to exceed the 0.6600 level. The pair has already tumbled below the 6.0000 level.  

It is likely that the exchange rate could gain support from the 55-, 100– and 200-hour SMAs near 0.5800 and recover. In this case the rate could re-test the 0.6600 level.  

However, note that the currency pair would have to surpass the monthly S2 at 0.5990. If the given level holds, it is likely that some downside potential could continue to prevail.

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