AUD/CHF 1H Chart: Triple Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A triple top pattern usually depicts the three unsuccessful attempts of the pair to consolidate at similar high levels, often leading to a plunge of the currency couple. After three consecutive stabs to a region of 0.8685/711, the AUD/CHF now is gradually retreating, moving closer to the pattern's support that if overcome may put a heavy selling pressure on the currency pair. However, traders' sentiment belies this view, as almost 54% of all orders are placed to buy the pair. Technical indicators also bolster the idea of a potential upswing, sending medium–and long-term bullish signals.
© Dukascopy Bank SA
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Tue, 17 Sep 2013 12:58:22 GMT

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