AUD/CHF 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Sell Sell
Alligator (13; 8; 5) Sell Buy Buy
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

The Australian Dollar has slightly appreciated against the Swiss Franc during the past month. This movement, in the result of which a short-term channel up was formed, is the last wave up of a senior ascending channel. 

On September 20, the pair reached a long-term resistance at 0.7796 valid since early 2015. The rate has since reached the lower channel boundary and even slightly recovered. Technical indicators suggest that the rate could still move upwards, possibly up to a resistance cluster set by the 55-, 200– and 100-hour SMAs and the weekly PP near 0.7710/20. 

Given that the yearly high is located in such a near distance, it is more likely that the Aussie fails to overcome this cluster, edges lower and breaches the bottom boundary of the junior channel near the 0.7700 mark. In the long term, the rate is expected to approach the senior channel.

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