AUD/CHF 4H Chart: Narrow channel likely to prevail

Note: This section contains information in English only.
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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