AUD/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Aussie will kick off a recovery versus the Swiss Franc in the nearest future. The cross is still placed in the lower part of the channel up pattern, but it seems that broadly nothing can prevent the pair from appreciating. The closest possible supply is placed within a couple of pips from the spot (0.7450) at 0.7460 represented by the local Monday high and daily R1. Success here will imply a surge to the first weekly resistance at 0.75 where the Aussie's positive performance may pave the way for a growth up to the red boundary of the channel at 0.7548. Meanwhile, there is a decent advantage of bullish (62%) positions over bearish ones (38%). On top of that, technical studies are giving AUD-long signals.
© Dukascopy Bank SA
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