AUD/CHF 4H Chart: Narrow channel likely to prevail - Trade Pattern Ideas - Dukascopy Bank
Wed, 02 Jan 2019 07:05:48 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Sell
Sell
RSI (14)
Neutral
Buy
Neutral
Stochastic (5; 3)
Buy
Neutral
Buy
Alligator (13; 8; 5)
Sell
Sell
Sell
SAR (0.02; 0.2)
Sell
Sell
Sell
Aggregate
⇘
⇘
⇘
The dominant pattern that has guided the AUD/CHF exchange rate for the last one year is a descending channel pattern. As apparent on the chart, the pair reversed from its upper boundary on December 3 and has since traded in a narrow channel down.
The Aussie is currently stranded between two important support and resistance areas. The pressure from both sides could force the pair to consolidate in a narrow range between their bounds.
If looking into the shorter term, a test of the bottom border of the narrow down channel at 0.6815.
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