AUD/CHF 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 336-bar long channel down pattern formed by AUD/CHF was started in the second part of October. The pair once attempted to breach the lower limit of the pattern but bearish pressure appeared to be not strong enough to allow the breakout to happen.
Now the currency pair is trading near the resistance at 0.7875 (daily R1) that is not far away from a three-year low of 0.7726 hit on January 24. If the pair manages to overcome this resistance it may try to rally to the next hindrance at 0.7922 (daily R2) that if surpassed will push 50-bar SMA at 0.7948 to the fore.
© Dukascopy Bank SA
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Tue, 28 Jan 2014 12:12:37 GMT

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