AUD/CHF 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Trading volume of the Aussie/Franc currency pair starting rising on March 10 as traders were preparing for the eventual break-out to take place. It happened a day later when the Australian Dollar breached the upper boundary of the triangle pattern. 
Judging from technical indicators which are pointing to the north on both short and medium-term time-frames, we should expect a continuation of this pair's positive performance. Moreover, as many as 70% of SWFX market participants are holding long opened positions. Therefore, outlook is bullish for the cross; however, strength of bulls can be tested by the weekly/daily R1 resistance area around 0.7719 soon.

© Dukascopy Bank SA
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