Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Sell | Sell |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Neutral | Neutral | Neutral |
Alligator (13; 8; 5) | Buy | Sell | Sell |
SAR (0.02; 0.2) | Buy | Buy | Sell |
Aggregate | ⇒ | ⇒ | ⇒ |
AUD/CHF has been trading in a medium-scale triangle pattern since the beginning of July. The currency pair bounced off its bottom border on July 2 and reached the upper boundary on July 19.
A strong support cluster formed by the 55– and 200-hour SMAs and the weekly pivot point near the 0.7354 regions was providing support for the exchange rate and has helped the pair to breached the aforementioned upper boundary of the triangle pattern.
Given that a breakout has occurred, the currency exchange rate is likely to begin a new wave upward. However, it is important to wait for a confirmation which could be a brief retracement down.