AUD/CHF 1H Chart: Rising Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
Since early March, the Australian Dollar has been on the rise against the Swiss Franc. The advance has been developing within the range bounded by two upward sloping and gradually converging lines that represent the trend-lines of the 134-bar long rising wedge pattern.
Now the currency couple is trading at a three-week high of 0.8011 and is likely to prolong the run of gains in the hours to come as more than 72% of market participants are bullish on the instrument, according to the SWFX data.
© Dukascopy Bank SA
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