AUD/CHF 4H Chart: Meets Resistance
The Australian Dollar is trading against the Swiss Franc simultaneously in two ascending channel patterns. One of them is a dominant one, while the second one represents a rebound in the borders of the larger pattern.
Recently the pair revealed junior pattern after a bounce off from the resistance near the 0.7720 mark. It has to be mentioned that the junior channel’s trend lines seem to be indicating only an approximate zone of week strength. The trend lines on their own do not seem to poses the needed strength to change the direction of the pair.
In general, in the near future the currency exchange rate is likely going to decline down to the supports levels just below the 0.7670 mark.
Recently the pair revealed junior pattern after a bounce off from the resistance near the 0.7720 mark. It has to be mentioned that the junior channel’s trend lines seem to be indicating only an approximate zone of week strength. The trend lines on their own do not seem to poses the needed strength to change the direction of the pair.
In general, in the near future the currency exchange rate is likely going to decline down to the supports levels just below the 0.7670 mark.