Autochartist has recently identified the Clear Triangle chart pattern on the 4-hour AUD/CHF charts. The overall Quality of this chart pattern is measured at the 5 bar level as a result of the below-average Initial Trend and Uniformity (both rated at the 4 bar level) and the higher Clarity (rated at the 6 bar level).The top of this Triangle (point A on the chart below) formed when the pair reversed down from the resistance area close to the parity, which had previously reversed the pair sharply down in the middle of 2010 (as is shown on the monthly AUD/CHF chart below). The pair is expected to decline further toward the lower support trendline of this Triangle in the nearest time.
The following monthly AUD/CHF chart shows the previous price action close to the major resistance at 1.0000: