AUD/CHF 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/CHF has been extending a flattish but volatile upward motion for the last half year or so, but has now exited the trading range to potentially form a new, steeper slope for the bullish motion and has sketched an ascending channel on the hourly chart. After testing the upper trend-line and failing, the pair is now on its way towards the bottom boundary around 0.7643. A multitude of supports will flatten out the motion with the first one lying at 0.7685. A stronger cluster will provide demand at 0.7638, just before the lower trend-line and serve as an entry point into an Ichimoku cloud which will work on turning the market ranging rather than trending and ultimately causing a turning point.
© Dukascopy Bank SA
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.