AUD/CHF 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Being unable to overcome supply at 0.7740, AUD/CHF was forced into a down-trend. Accordingly, the appropriate strategy would be to sell on rallies. The key resistance is represented by the trend-line at 0.76, strengthened by the 200-hour SMA, though 0.7546 may also play a significant role.
In the meantime, losses should be limited by the support trend-line, which at the moment is located at 0.7460, implying that the near-term risks are skewed to the upside. As for the sentiment, the traders are optimistic with respect to the Australian Dollar's prospects in comparison to the Swiss Franc: 71% of open positions are long.
© Dukascopy Bank SA
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