AUD/CHF 4H Chart: Short-term decline expected

Source: Dukascopy Bank SA

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

The Australian Dollar has been appreciating in a medium-term ascending channel pattern against the Swiss Franc. This increased in price range began when the currency pair reversed from the lower boundary of a dominant descending channel at 0.6858.

The exchange rate tested a resistance cluster formed by the weekly PP and the combination of the 50– and 100-hour SMAs at 0.7237 during Wednesday's morning hours. The common scenario would be a decline towards the lower boundary of the medium-term ascending channel at 0.7155.

However, a support level set by the 200-hour simple moving average at 0.7177 could prevent the price from hitting target today.

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