AUD/CHF 1H Chart: Bulls likely to prevail

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

The Australian Dollar continued to appreciate against the Swiss Franc within the medium-term ascending channel. As apparent on the chart, the AUD/CHF currency pair has already reversed north from the lower channel line.  

From a theoretical perspective, it is likely that some upside potential could prevail in the market, as the exchange rate should target the upper channel line located in the 0.6900/0.6940 range. Important level to look out for is the monthly R1 at 0.6880.  

If the given resistance level holds, it is likely that a reversal south could occur, and the currency pair could re-test the lower channel line. Also, if the given trend holds, it is likely that the general direction is expected to remain north in the medium term.

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