AUD/CHF 1H Chart: Falling Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
After the AUD/CHF currency pair touched the upper boundary of the present, rather narrow falling wedge pattern, it is gradually losing value, hovering in the direction of the lower trend-line, which it is expected to be reached  soon. Even though one-hour technical indicators are giving mixed signals at the moment, four-hour and daily ones are suggesting the pair will lose value in the long-term. On the other hand, the pattern's support is strengthened both by weekly S1 and daily S2 from above, making the case of a bearish break-out less realistic. Moreover, as many as 72% of all market participants are now holding long positions of the Aussie, waiting for it to gain value.
© Dukascopy Bank SA
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