AUD/CHF 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/CHF has been extending a flattish but volatile upward motion for the last half year or so, but has now exited the trading range to potentially form a new, steeper slope for the bullish motion and has sketched an ascending channel on the hourly chart. After testing the upper trend-line and failing, the pair is now on its way towards the bottom boundary around 0.7643. A multitude of supports will flatten out the motion with the first one lying at 0.7685. A stronger cluster will provide demand at 0.7638, just before the lower trend-line and serve as an entry point into an Ichimoku cloud which will work on turning the market ranging rather than trending and ultimately causing a turning point.
© Dukascopy Bank SA
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