AUD/CHF 4H Chart: Channel Up

The Aussie has been in a decline versus the Swiss Franc since the previous working week, when the sell-off began around the 0.71 level. Now AUD/CHF seems to be supported by the 200-period moving average, currently at 0.6903, which is reinforced by the 100-period SMA from above. A drop below both of them should resume the downward tendency of this currency pair, but the pattern's lower edge is still expected to act as a reliable demand in the future. A recovery may begin around 0.6840, which is a location of the monthly pivot point and weekly S1 at the moment. On top of that, 72% of all SWFX traders are long on the Aussie, while daily indicators are pointing upwards.