AUD/CHF 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A jump to a one-year high performed by AUD/CHF provoked a rapid decline that took place inside a downward sloping corridor. Last 89 hours allowed the pair to touch the channel's limits several times; however, recently the upper limit of the tunnel has failed to withstand the test since the currency couple managed to surpass the trend-line and now is attempting to settle above this level. Traders believe the endeavour may be successful; in other words, a bullish breakout followed by a rally may happen. According to the SWFX, almost two-thirds of all orders are placed to buy the pair.
© Dukascopy Bank SA
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