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As a result of the Aussie's inability to cross 0.84, but at the same time because of the bulls' perseverance, AUD/CHF formed an ascending triangle on the four-hour chart. Right now the currency pair is trading next to the upper boundary of the pattern, meaning it is bearish in the near term. On the other hand, the daily and weekly technical indicators are bullish, implying that a break-out to the upside is a more likely event than a dip in a longer-term perspective. If this is the case, it may potentially open a path towards 0.8750—the highs seen in the second half of 2013. As for the sentiment, more than 70% of open positions are long, meaning the sentiment among the traders is strongly positive.
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