AUD/CHF 1H Chart: Bears could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The Australian Dollar has been depreciating gradually against the Swiss Franc since the middle of May. This movement has been bounded in the short-term descending channel.  

Note, that the currency pair is pressured by the 55-, 100– and 200-hour SMAs, currently located in the 0.6936/0.6952 range. Thus, it is likely, that some downside potential could prevail in the market, and a breakout south from the channel could occur soon. The pair could target the lower boundary of the long-term descending channel located circa 0.6700. 

Otherwise, it is expected, that the exchange rate could reverse north and target the Fibonacci 38.20% retracement at 0.7163.

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