AUD/CHF 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/CHF has been moving similarly to EUR/CHF since January. The Swiss Franc is losing its positions versus other major currencies, and according to Dukascopy traders, the tendency will persist, as they are selling the Alpine currency in 74% of the time across the board. Additionally, technicals on a daily and weekly charts are sending ‘buy' signals, supporting the case of further appreciation. We should not exclude the possibility the pair will move sideways for some time and fluctuate between weekly pivot at 0.8281 and recent high around 0.8314. Nonetheless, a penetration of the recent high and daily R1 will clear the way for weekly R1 at 0.8350 and then to 0.8394.
© Dukascopy Bank SA
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EUR/CHF 4H Chart: Channel Up

A 161-bar long channel up has been formed by EUR/CHF currency pair in mid-April. However, it is important to mention that trading range is narrowing slowly, hence, it can be a rising wedge as well. Therefore, the breakout can happen relatively soon and we will see some major moves, even despite the fact the EUR/CHF is one of the least

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