AUD/CHF 4H Chart: Channel Down

By failing to recover in the middle of January, the AUD/CHF  cross created a tricky situation by its own most recent development. It seems to be building a falling wedge pattern in the lower part of a bearish channel. It implies that the pair will eventually commence a bullish break-out from the former and will continue growing in the direction of the upper red trend-line. Bullish support should be found near 0.68, namely monthly S2 and weekly S1 that coincide with the green trend-line. The positive case for the Aussie is strengthened by dominance of "buy" signals in the weekly time frame. The only bearish bias is coming from the SWFX market sentiment, which assumes AUD/CHF is still overbought (73% long).