AUD/CHF 1H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/CHF has been on the rise since May 21, when the pair embarked upon formation of the channel up pattern.
Now the upswing may have come to an end given that AUD/CHF has almost broken the lower limit of the corridor. However, market players have not lost faith in the pair-more than two-thirds of them are bullish on the instrument, according to the SWFX data. Meanwhile, technical numbers, despite being neutral for short and medium terms, are sending a strong ‘buy' signal for the long-term.
© Dukascopy Bank SA
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