AUD/CHF 4H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar was weakening versus the Swiss Franc during almost six months until it reached a two-year low in the end of August. A drop to this level mollified selling pressure and helped the pair to commence a bullish trend; the pair shaped a rising wedge pattern. Currently, there are no indications pertinent to looming breakout. Market participants are strongly bullish on the currency pair, with 72.22% of them betting on appreciation of AUD/CHF, according to the SWFX data. Technical indicators also call for upward movement in the short-term but urge that the pair may retreat in the medium-term.
© Dukascopy Bank SA
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Fri, 08 Nov 2013 07:46:40 GMT

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