AUD/CHF 4H Chart: Potential bullish sentiment

Note: This section contains information in English only.
Source: Dukascopy Bank SA

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.

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