AUD/CHF 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair has been recovering after a 300 pip sell off in the second half of September. It has been moving along the pattern's support since 17th of October. Short term technicals suggest that pair has the propensity to inch up higher. Medium and long term technicals however, give strong neutral outlook. In addition to this, long term Stochastic indicator, which predicts major turning points, sends sell signal. It is very likely that most of this pressure is coming  from October high at 0.875. If the pair dips outside the pattern's boundaries it is very likely that the pair will trail to 200-bar SMA and, afterwards, to 20-day SMA at 0.8594.

© Dukascopy Bank SA
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