Patterns: AUD/CAD, AUD/CHF
|AUD/CAD 4H Chart: Rising wedge pattern in sight
The AUD/CAD currency pair has been trading upwards within a rising wedge pattern since the beginning of August.
From a theoretical point of view, it is likely that some upside potential could prevail in the market, and the exchange rate could trade within the given pattern within the following trading sessions. Then, a breakout south could follow.
In the meantime, note that the currency pair could gain support from the 55-, 100– and 200-period SMAs in the 0.9560 area. Thus, some upside potential could continue to prevail in the market.
AUD/CHF 4H Chart: Bulls could prevail in market
The AUD/CHF exchange rate has been trading upwards within an ascending channel since the beginning of August.
From a theoretical perspective, it is likely that some upside potential could prevail in the market in the medium term. In this case the currency pair would have to exceed the Fibo 50.00% at 0.6695.
If the given resistance level holds, it is likely that a breakout south from the given channel could occur within the following trading sessions.
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