AUD/CHF 4H Chart: Remains near 0.7100 - Trade Pattern Ideas - Dukascopy Bank
Wed, 19 Dec 2018 06:45:18 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Sell
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Neutral
Neutral
Neutral
Alligator (13; 8; 5)
Sell
Sell
Neutral
SAR (0.02; 0.2)
Sell
Sell
Buy
Aggregate
⇘
⇘
⇒
The Australian Dollar has decreased its trading range against the Swiss Franc. This decline started after the currency pair reversed from the upper boundary of an ascending channel at 0.7377.
The exchange rate was trading near a swing low of 0.7100 during the first part of Wednesday's session.
Everything being equal, it is likely that a newly formed junior descending channel pattern could guide the currency exchange rate lower during the following trading session and potentially breach a psychological support level of 0.71.
The possible targets for bearish traders will be near a support cluster at 0.7049.
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