AUD/CHF 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The Australian Dollar is trading against the Swiss Franc simultaneously in two descending channel patterns. However, the situation is about to change, as the junior pattern has reached the lower trend line of the dominant descending pattern. Due to that reason a rebound, followed by the formation of a new junior pattern, is to be expected. It is highly possible that the pair will trade rather flat, as the minor channel's resistance is broken. Afterwards, support could be found in the 38.20% Fibonacci retracement level of the 2017 high and 2015 low levels at the 0.7327 mark. Afterwards, the trend line's breaking point and the point of the reversal against the retracement will be usable for the marking of the new junior pattern.
  Level  Rationale     Indicator 1H 4H 1D
R4 0.7443 100-hour SMA     MACD (12; 26; 9) Sell Sell Sell
R3 0.7427 55-hour SMA     RSI (14) Buy Buy Neutral
R2 0.7407 Trend line     Stochastic (5; 3; 3) Sell Neutral Sell
R1 0.7386 Weekly S1     ADX (14) Sell Sell Sell
S1 0.7346/40 Monthly S1; Trend lines     CCI (14) Buy Buy Buy
S2 0.7327 38.20% Fibo     AROON (14) Buy Buy Buy
S3 0.7316 Weekly S2     Alligator (13; 8; 5) Sell Sell Sell
S4 0.7236 Weekly S3; monthly S2     SAR (0.02; 0.2) Sell Sell Sell
          Aggregate ↘ → ↘
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