AUD/CHF 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar in contrast to the Euro, has been appreciating against the Swiss Franc and now is shaping a channel up pattern that already is more than 200-bar long.
In the following hours, the disposition of the SMAs is likely to determine the pair's direction. In particular, the short-term SMA dived below the long-term one an hour earlier thus pushing the instrument to the south. Nevertheless, traders continued to support the bullish scenario – over 60% of all orders on the SWFX are to buy the pair.
© Dukascopy Bank SA
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Thu, 10 Jul 2014 12:02:12 GMT

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