AUD/CHF 1H Chart: Broadening Descending Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Australian Dollar is one more currency, which is affected by the appreciation of the Swiss Franc, as the AUD/CHF currency pair is in a broadening descending wedge pattern. The currency exchange rate is falling by following near the pattern's lower trend line around the level of 0.7350. In accordance with the pattern, there should soon come a period of gains, as the currency pair should rebound against the pattern's support line, which is also supported by the second weekly support level at 0.7366. In the meantime, SWFX trader sentiment is 57% bullish, which means that there is still a lot of room for the currency pair to move in either direction.
© Dukascopy Bank SA
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