AUD/CHF 1H Chart: Monthly trend in sight - Trade Pattern Ideas - Dukascopy Bank

Thu, 24 Oct 2019 14:42:00 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

The Australian Dollar has been appreciating against Swiss Franc since the beginning of October. This movement has been bounded within the ascending channel.  

Note that the AUD/CHF currency pair is supported by the 200-hour moving average, currently located at 0.6758. Therefore, it is likely that the pair could break the upper channel line in the nearest future and target the monthly R2 located at 0.6949.  

However, note that the exchange rate would have to surpass the resistance level formed by the Fibo 23.60% at 0.6816. If the given level holds, it is likely that a reversal south could occur, and the Australian Dollar could continue to extend gains within the given trend.


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