AUD/CHF 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Aussie is losing ground against another major and this time it is the Swiss Franc, and most likely the tendency will persist for some time. Even though on August 15 and 19 there has been two attempts to perform the upside breakout, the pair bounced back after touching the 200-bar SMA. As bulls were unsuccessful and the pair resume following the downtrend, Aussie is likely to continue depreciating. Moreover, aggregate technical indicators on daily and weekly charts are sending "sell" signals, supporting the case of further depreciation.
© Dukascopy Bank SA
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