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Forex Technical Analysis

The impressive recovery of the Australian dollar – Swiss franc pair that has already managed to recover some 1200 points since the downwards spiral towards record low and extreme levels of 0.7100, could well be only the tip of the iceberg. This becomes apparent when we analyze the potential that the pair has for price rises over the long term. It is important to remember that there is a gap between the currencies that tend to be in favor of the Australian dollar and against the Swiss franc. This constitutes a natural and continuous support framework for the Australian dollar – Swiss franc pair.

In the long term, the pair is expected to move towards the psychological equivalence levels at 1.0000. At the same time, however, in the short term analysis (four hour graph) we can identify two closer key points for realization at around 0.8565 and 0.9165. Confirmation of the start of an upwards move and the end of the present shuffling movement of the pair, will only be received following the clean breakthrough of the 0.8400 Swiss franc to the Australian dollar test level.

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