AUD/CHF 4H Chart: Sets to break pattern

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

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Buy Buy
Stochastic (5; 3) Neutral Neutral Buy
Alligator (13; 8; 5) Sell Sell Sell
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The Australian Dollar has declined significantly against the Swiss Franc after reaching a high mark at 0.7556. The currency pair made a U-turn from the upper boundary of a dominant descending channel on June 7.

Currently, the exchange rate is stranded between the lower boundary of the dominant descending channel at 0.6873 and a resistance cluster formed by the 50-hour simple moving average and the weekly PP at 0.6934.

Everything being equal, it is likely that the AUD/CHF currency exchange rate continues to maintain a junior descending channel during the following trading sessions. The most realistic target for the pair could be a support cluster formed by the weekly and monthly PPs at 0.6820.

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