AUD/CHF 1H Chart: Rising wedge pattern in sight - Trade Pattern Ideas - Dukascopy Bank

Fri, 29 May 2020 12:51:47 GMT
Source: Dukascopy Bank SA
 
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)SellBuyBuy
Aggregate

The AUD/CHF currency pair has been trading within a rising wedge pattern since the beginning of May. The pair has already exceeded the 0.6350 level.  

From a theoretical point of view, it is likely that a breakout south could occur within the following trading sessions. In this case the exchange rate could gain support from the Fibo 23.60% at 0.6108. 

Meanwhile, note that the rate could gain support from the 55-, 100– and 200-hour SMAs in the 0.6400 area. Thus, some upside potential could prevail in the market. Note that the rate could face the resistance level—the Fibo 50.00% at 0.6695.


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