AUD/CHF 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After diving beneath its 200-bar SMA and touching pattern's support line, AUD/CHF has resumed following the downtrend and at the moment of writing was traded at 0.835– almost a middle of the trading range. Meanwhile, aggregate technical indicators do not give a clear "buy" or "sell" signal, however current market sentiment is strongly bullish– 74% of all opened positions are long. Therefore, the short term outlook would be bullish, while according to weekly technicals in a longer term, we are expected to see a continuation of the downtrend. Moreover, the release of any surprising data or any bold announcement may push the pair closer to any of the trend lines.
© Dukascopy Bank SA
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