AUD/CHF 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/CHF, just like many other Aussie crosses, has been forming a channel down pattern since the beginning of November after breaching the long-term moving average. However, while in most of the currency pairs the upper falling line of the pattern is currently forcing the upward momentum to give up, here the price, regardless of the bearish technical indicators, managed to escape the area of the pattern. Now, if AUD/CHF returns to the former resistance at 0.7917 in the nearest future in order to confirm it as a new support, there will be a good chance the rally will be able to develop up to the 200-period SMA that is currently located near the weekly R3 level at 0.8175.
© Dukascopy Bank SA
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