AUD/CHF 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following a precipitous decline seen late January, AUD/CHF managed to stabilise and even commenced a recovery, which developed into an upward-sloping channel. Nevertheless, there are concerns whether the pair will be able to preserve the bullish impetus. Firstly, the daily and weekly technical indicators are suggesting depreciation of the Australian Dollar relative to the Franc. Secondly, at the moment the price is approaching a tough resistance area around 0.7989, created by the weekly R1, 200-period SMA and the up-trend line. Despite all the obstacles AUD/CHF is facing, the overwhelming majority (71%) of traders are holding bullish bets on the Aussie.
© Dukascopy Bank SA
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